Despite Trumps bluster, most ships are not going to run Hormuz Strait; insurance companies are not going to insure them as long as it's an active war

[Cypress]

Iran unswayed by Trump's 48-hour deadline and threats to 'obliterate' energy infrastructure​

President Donald Trump threatened a major strike if Iran ignores his 48-hour ultimatum, but experts say it's unlikely to change Tehran's resolve.

Ross Harrison, a senior fellow at the Middle East Institute and the author of “Decoding Iran’s Foreign Policy,” said Trump’s threat suggested the president is facing “limited options to open the strait — and I think that may be dawning on him.”

“The ships are not going to pass, and insurance companies aren’t going to insure ships as long as it’s an active war,” he said.

Iran unswayed by Trump's 48-hour deadline and threats to 'obliterate' energy infrastructure

President Donald Trump threatened a major strike if Iran ignores his 48-hour ultimatum, but experts say it's unlikely to change Tehran's resolve.

www.nbcnews.com

 

[tsuke11]

Eventually they will. I mean your theory is that oil prices will go up to 200$ or something right? At some point between now and then it will be worth the risk to cross the straits.

Like you said its all a matter of cost benefit

 

[Cypress]

Eventually they will. I mean your theory is that oil prices will go up to 200$ or something right? At some point between now and then it will be worth the risk to cross the straits.

Like you said its all a matter of cost benefit

Shipping companies shouldn't have to risk their tankers and crews by running the strait without insurance because of Trump.

 

[tsuke11]

Shipping companies shouldn't have to risk their tankers and crews by running the strait without insurance because of Trump.

? insurance is still available. It just costs more.

 

[Hawkeye10]

There is no indication that Trump is anymore in contact with reality.

Buckle Up.

 

[Crepitus]

Eventually they will. I mean your theory is that oil prices will go up to 200$ or something right? At some point between now and then it will be worth the risk to cross the straits.

Like you said its all a matter of cost benefit

They are not going to risk their $100,000,000.00 asset to keep your truck gassed up.

 

[Crepitus]

? insurance is still available. It just costs more.

Actually no. Many companies are simply not offering to insure ships for that.

 

[Cypress]

? insurance is still available. It just costs more.

Please provide a reputable link showing 1) what the insurance costs now compared to two months ago, and 2) whether insurance is just as widely available now as it was two months ago, or whether some insurers stopped insuring ships traversing the Strait.

 

[Nordberg]

A billion-dollar ship will not risk the trip.

 

[tsuke11]

Please provide a reputable link showing 1) what the insurance costs now compared to two months ago, and 2) whether insurance is just as widely available now as it was two months ago, or whether some insurers stopped insuring ships traversing the Strait.

Marine - Lloyd's

Lloyd's is the world's leading insurance market providing specialist insurance services to businesses in over 200 countries and territories.

www.lloyds.com

they are still offering it. More expensive yes but sometime the price of oil will rise to make it worth it.

 

[Stone]

For a minute there I thought he was going to get down and spit shine Trumps shoes.........