Coverage of Iran war
Not the first time that tensions have been high in the Strait of Hormuz
This is not the first time that has been there have been tensions in the Strait of Hormuz.
Back in 2019, there were tensions between UK and Iran after a UK tanker was stopped in the Strait of Hormuz by boats from the Islamic Revolutionary Guard. Our analysis at the time suggested that such an event would have generated a $3.1 billion hit to the UK economy.
$315 million of cargo hit by attacks
The following vessels were struck by Iranian missiles that were carrying a combined $315 million of cargo according to our analysis:
- Safesea Vishnu
- Zefyros
- Mayuree Naree
- One Majesty
- Star Gwyneth
Countries Most Exposed from Conflict
Our forecasts of Q1 trade in 2026 shows the following countries most exposed:
- Trade through Strait of Hormuz in Q1 2026 is estimated to be $167 billion.
- 70% of trade is to China, India, South Korea & Japan.
- 87% of trade is from UAE, Iraq, Kuwait, Qatar & Saudi Arabia.
23% of global crude oil is through Strait of Hormuz
The Strait of Hormuz is a key artery for supplying crude oil according to our analysis:
- Annual Crude Oil Trade: $407 billion.
- 23% of all global crude oil trade is through the Strait of Hormuz.
$3.5 liability for key sectors
The approximate liability for companies across the region is as follows:
- Finance, Insurance and Real Estate Insurance Liabilities: $1.9 billion.*
- Manufacturing Insurance Liabilities: $1.6 billion.*
*Figures are indicative estimates based on sector-level revenue benchmarking and do not represent projected insurer balance sheet liabilities.
Further impact on Marine & Aviation can be found here