Florida Conservative

The Gulf's physical petroleum network is proving harder to paralyze than many expected. Yet insurance and freight costs are imposing extraordinary financial penalties on the ships and cargoes keeping that network operational. Meanwhile, the Black Sea is developing its own distinctive risk premium, with reported tanker insurance costs rising more than twelvefold and freight rates separating even from comparable Russian Baltic routes

For much of September, the strategic question was whether attacks on Saudi Arabia's East-West Pipeline, combined with increasing Houthi pressure in the Red Sea, could neutralize the principal alternatives to the Strait of Hormuz.

Sincere 02 is an Iranian oil smuggling ship that some how is insured by US company the American Club