Insurers have cut war‑insurance premiums for vessels navigating the Strait of Hormuz by more than half in the past six days. Premiums fell from about 5% of a ship’s value to 2% once discounts are applied, brokers said. The change follows a US‑Iran ceasefire signed last week, easing risk for ships that had lingered in the Gulf.

Since June 18, Kpler reports that at least 172 ships have passed through the strait, despite Iran’s brief closure announcement. Marcus Baker of Marsh said the corridor now sees steady traffic and “plenty of insurance supply.” The resumption of AIS transponders on vessels, including MSC’s Qingdao, signals growing confidence after months of shipping fear today.

War cargo premiums, covering oil and grain, have stayed flat since the deal, brokers noted. James Reason of WTW warned that continued stability will ease rates, but mines in transit corridors still raise caution. After February’s US‑Iran attacks insurers slashed coverage and raised costs up to twenty‑fold, drawing criticism from the shipping industry for owners.

Lowered premiums reduce capital strain for shipowners and may accelerate vessel movements through the Gulf. Yet insurers remain wary as reports of mines persist. The current pricing trend signals a temporary reprieve, but any flare‑up could reverse gains quickly, underscoring the fragile balance between geopolitical risk and maritime commerce for global trade in 2026 today.