
US Sets $20 Billion Gulf Shipping Backstop
The United States introduced a $20 billion maritime reinsurance programme for eligible vessels in the Gulf, aiming to support trade flows and war-risk cover through the Strait of Hormuz.

The United States introduced a $20 billion maritime reinsurance programme for eligible vessels in the Gulf, aiming to support trade flows and war-risk cover through the Strait of Hormuz.

COSCO Shipping Lines has suspended new bookings to several Middle East destinations after a security risk review, joining major carriers avoiding the Strait of Hormuz amid rising tensions.

Trump ordered U.S. Development Finance Corporation to offer political risk insurance and guarantees for Gulf shipping after war-risk cover was withdrawn, and raised the option of tanker escorts.
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