The initiative comes against the backdrop of the conflict involving Iran, which has seen missile and drone attacks on shipping, mine-laying and increased tension around the Strait of Hormuz. The waterway, a key chokepoint for global energy and commodities, has seen commercial traffic disrupted as hostilities and sanctions have intensified, prompting vessel diversions and longer alternative routes.
Beazley lines up $1 billion marine war facility for Hormuz transits
