Duffy Says Insurance for US Escorts in Strait of Hormuz Ready, but Security Isn't

US insurance ready for ships in Strait of Hormuz, awaiting military approval for naval escorts: Secretary

Decision is pending analysis by Joint Chiefs of Staff chairman, Transportation Secretary Sean Duffy tells Fox News - Anadolu Ajansı

Duffy says insurance for US escorts in Strait of Hormuz ready, but security isn't

Transportation Secretary Sean Duffy said Sunday that the Trump administration has a plan prepared to insure ships traveling through the Strait of Hormuz but is still waiting for military officials to determine when it is safe to begin escorting vessels through the contested waterway.  Appearing on Sunday Morning Futures with Maria Bartiromo, Duffy said the administration is ready to implement an insurance mechanism intended to encourage oil ship…

War risk insurance returns to Strait of Hormuz - at a price

Daily charter rates for oil supertankers have quadrupled within a week to nearly US$800,000