Detailed view for this entity.
“Why did the ship stop sailing into the Persian Gulf? Because I have to tell you, it's not because the Iranians closed the straits. They did not close the straits. The decision was made by the shipping companies. But why did the shipping companies make that decision? Well, to understand that, you have to understand marine insurance.”
“What is happening right now is the ocean carriers, those who operate ships, largely tankers, but there's also other commercial ships that go in and out of here, have decided to basically sit back and wait a minute and let's see what happens between the US, Israel, and Iran. The other issue here, and the important one to understand, is war risk insurance. Everything in shipping is geared to insurance.”