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2h ago

Trump Orders Immediate U.S. Insurance for Gulf Shipping, Signals Possible Navy Escorts

Government underwriting targets a war-risk insurance gap created by withdrawals that have stalled Hormuz traffic.

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The Arleigh Burke-class guided-missile destroyer USS Mason (DDG 87) transits alongside the Nimitz-class aircraft carrier USS George H.W. Bush in the Atlantic Ocean, Feb. 21, 2026. The George H.W. Bush Carrier Strike Group is at sea training as an integrated warfighting team. Composite Training Unit Exercise (COMPTUEX) is the Joint Force’s most complex integrated training event and prepares naval task forces for sustained high-end Joint and combined combat. Integrated naval training provides combatant commanders and America’s civilian leaders highly capable forces that deter adversaries, underpin American security and economic prosperity, and reassure Allies and partners. (U.S. Navy photo by Mass Communication Specialist 2nd Class Jayden Brown)

Overview

  • The directive tasks the U.S. Development Finance Corporation with offering political-risk cover to all shipping lines operating in the Gulf effective immediately.
  • Trump said the Navy could escort tankers through the Strait of Hormuz if required, though industry reporting says the service told shippers it lacks assets for routine escorts.
  • Iran’s Revolutionary Guard has declared the waterway closed and threatened vessels, while attacks on tankers including Skylight and MKD VYOM left multiple injuries and one confirmed death.
  • Major carriers such as Maersk, Hapag-Lloyd and CMA CGM have suspended transits, with tracking showing hundreds of vessels anchored and traffic plunging through the strait.
  • Leading marine insurers are canceling war-risk coverage for Gulf transits from March 5, deepening the halt in movements and sustaining higher energy prices through a route that carries about one-fifth of seaborne oil.