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Insurance Market Reaction Traffic through the Strait of Hormuz declined by 80% within 24 hours of strikes being launched on Iran over the weekend as shipowners and charterers weighed whether to proceed with voyages. Chief among their considerations was the stance taken by the world’s reinsurers that ultimately underwrite the marine insurance market. By Monday,…

At a Glance Operational Overview  As of March 3, the maritime environment reflects the declared closure of the Strait of Hormuz and sustained commercial withdrawal from the corridor rather than temporary hesitation. On March 2, Iran’s Revolutionary Guards formally declared the Strait of Hormuz closed and warned that vessels attempting transit would be targeted. Traffic…

At a Glance Operational Summary As of March 2, 2026, tanker traffic through the Strait of Hormuz has collapsed following vessel strikes and escalating military activity in the Gulf. While Operation Epic Fury began on February 28, the past 24 hours reflect the operational consequences: suspended transits, halted tanker movement, insurance withdrawal, and precautionary vessel…

At a Glance Escalation in the Strait of Hormuz At 01:15 ET on February 28, U.S. and partner forces began coordinated strikes against Iranian military targets under Operation Epic Fury. Within hours, missile exchanges followed across the Gulf, placing one of the world’s most critical maritime chokepoints inside an active conflict zone. Forty-eight hours later,…