Allianz: Approximately $125 Billion in Ship Cargo Stranded in the Persian Gulf, Geopolitical Risk Becomes Top Threat to Shipping
Miles Bennett
Allianz reports roughly 1,150 vessels and $125 billion worth of ships and cargo stranded in the Persian Gulf, with the Strait of Hormuz blockade elevating geopolitical risk to shipping's number-one threat and forcing the industry to pivot from cost efficiency to supply-chain resilience.
How bad is the Persian Gulf gridlock?
1,150 cargo ships carrying roughly $125 billion in vessels and goods are stuck in the Persian Gulf, awaiting the reopening of the Strait of Hormuz.
About 20,000 seafarers are stranded with them, facing prolonged exposure to attack threats and psychological stress.
This means → it is not just a logistics bottleneck — it is a simultaneous asset-safety and human-safety crisis.
Why does Allianz call this a "new maritime order"?
Allianz classifies the Hormuz blockade and reported mining operations as the latest in a string of major shipping disruptions.
The report introduces the concept of a "new maritime order": strategic-waterway risk is rising, established trade routes are being disrupted, and risk premiums are climbing.
In plain terms = shipping companies used to optimize for "how to cut costs"; now the first question is "can the ship get there safely?"
Can shipowners still get insurance — and at what cost?
Allianz notes that marine insurance has remained available throughout the conflict, but hull and cargo premiums have both risen.
The core problem for shipowners, the report stresses, is not insurability — it is the physical risk to vessels and crews operating in a conflict zone.
This means → premium hikes are a line-item cost; the real risk — crew safety and asset destruction — cannot be fully covered by any policy.
What does this mean for the industry at large?
Allianz Commercial CEO Thomas Lillelund stated: "Resilience, geopolitics, and efficiency must be balanced — the cost of uncertainty is reshaping the entire shipping industry."
Global head of marine risk advisory Rahul Khanna warned that the Hormuz blockade sets a dangerous precedent, casting doubt on the long-term security of this and other critical chokepoints.
This reflects a structural shift in how shipping risk is priced — geopolitics is no longer an occasional disruption but a cost that must be permanently built in.
Content is for reference only, not financial advice.