Middle East maritime war risk premiums have been finalized, with oil tanker rental prices increasing nearly fourfold to nearly $800,000 a week.

A constraining factor affecting the resumption of navigation in the Strait of Hormuz - the war risk insurance rate, has a preliminary solution; but whether or when each shipping company dares to pass through the war zone still awaits further observation. Caixin learned on March 6th from several shipping companies that international insurance companies have renegotiated new war risk insurance contracts for ships entering the Persian Gulf and the Strait of Hormuz, with a war risk insurance rate of 1% of the ship's reset value, with renewal every 7 days - before the war, the war risk insurance rate in the Persian Gulf was only 0.25%. "It's too expensive, if we calculate the subsequent congestion situation at the Persian Gulf docks, considering the rule of renewal every 7 days, the insurance premium for one oil shipment will be 2% or 3%." a shipping company insider said, insurance companies will give each company different no-claims bonus rewards on top of the base rate, "for example, if your claim situation is good, the NCB will be adjusted to 0.8%, equivalent to an 20% discount".