The escalating conflict between Israel, the United States, and Iran has created serious maritime security risks in the Persian Gulf for commercial shipping in particular the Strait of Hormuz. The military strikes on Iranian targets have prompted retaliatory actions from Tehran, including missile attacks on US facilities and assets across the Gulf region.
According to reports over the weekend the Iranian Revolutionary Guard has made calls via VHF warning against passing the strait and several attacks on ships were reported on Sunday including a strike on the tanker “Skylight”. In the meantime traffic has been reduced significantly and major shipping companies, including leading container and tanker operators, have instructed vessels to steer clear of the Gulf, halt transits through the Strait of Hormuz, and seek shelter where possible. US Naval Forces Central Command has issued advisories confirming ongoing military operations across the Arabian Gulf, Gulf of Oman, North Arabian Sea, and the Strait of Hormuz. Risks are particularly acute for vessels affiliated with the US, Israel, or Western interests, and broader spillover could affect energy export logistics from Gulf producers.
The impact of these developments should not be understated. The Strait of Hormuz handles around 20% of the world’s seaborne oil and a significant portion of liquefied natural gas, making any interruption a major risk to energy markets and supply chains.
NNPC Marine Insurance strongly advises shipowners and operators to avoid the area to the extent possible. In the event that a vessel has been fixed to the region the contractual position should be considered as under war risk clauses (e.g., BIMCO CONWARTIME or VOYWAR), deviation may be allowed for vessel, crew, and cargo safety, though cost allocation depends on specific contract terms and risk assessments.
NNPC Marine Insurance continues to monitor the evolving situation closely and will provide further updates as soon as possible. Members who require advice or assistance are invited to contact our claims team at claims@nnpc-marine.com.
