Source snapshotPublisher wording captured Jul 23, 2026, 2:55 PM
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How shipping insurance rates are rising, as Hormuz, Bab al-Mandeb shut down
Insurance rates through Hormuz are currently four times the five-year average.
Al Jazeera reporting40 sentences analyzed5,222 captured characters
Maritime insurance prices have soared amid shipping disruptions in the Strait of Hormuz and are also rising for vessels traversing the Bab al-Mandeb, with both waterways – critical channels for the global economy – now theatres of war.
Yemen’s Iran-aligned Houthi group announced a blockade of Saudi Arabian ports and ships in the Bab al-Mandeb Strait, which connects the Red Sea to the Indian Ocean, earlier this week.
This comes on top of ongoing disruptions in the Strait of Hormuz due to the US-Israel war on Iran.
Tehran has insisted that ships consult it before trying to pass, while the US has imposed a naval blockade of Iran-linked ships.
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