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At a Glance Operational Overview Iran’s Persian Gulf Strait Authority opened in mid-May to oversee transits and toll payments through the Strait of Hormuz. It has since released three tranches of blacklisted vessel names, on August 24, September 2, and September 14. Windward analysis of all 77 vessels finds that every one used the “unauthorized”…

At a Glance Operational Overview Saudi Arabia’s workaround to the partial closure of the Strait of Hormuz came under direct attack last week. Saudi Arabia diverted crude to the Red Sea port of Yanbu via the East-West pipeline. On September 10, a pumping station on the pipeline was attacked and preemptively shut down. On the…

At a Glance Four Vessels Worked Five Pacific Cable Systems Simultaneously Four Chinese state-owned research vessels conducted surveys directly above five Pacific cable systems this summer. Pacific Light Cable Network, Hawaiki, Bulikula, Honotua, and Juno. Each shows the same behavioral profile of sustained low speed, grid tracklines, and multi-day dwell in position, consistent with systematic…

At a Glance Underwriting Is a Pricing Decision Made on Incomplete Data Underwriters carry the pricing decision at two moments in the coverage process. At binding, the underwriter takes compliance’s assessment of the vessel and its operating context, applies actuarial models and loss history, and sets premium and terms. At renewal, the underwriter takes the…