The blockade of Hormuz has paralyzed goods worth more than 110,000 million euros

BarcelonaThe conflict in the Middle East has paralyzed 1,150 cargo ships carrying goods worth an estimated approximately 125 billion dollars (110.074 billion euros) in the Strait of Hormuz, causing nearly 20,000 sailors to remain in the Persian Gulf. This was reported by Allianz Commercial this Wednesday in its report on maritime safety and transport, in which it pointed to a transition with a "new maritime order".

In this context, the company pointed out that although maritime insurance coverage has been available throughout the conflict, the main problem for shipowners has been the “risk to crew and vessel when transiting a tense area”.

Another study by insurer Allianz mentioned that between 2016 and the end of 2020, there were 555 total ship losses, an average of 111 per year. However, this figure has fallen to 350 between 2021 and the end of 2025, with an average of 70 annually (37% less than in the previous five-year period), reflecting the "positive impact" of a greater focus on safety measures. Globally, the number of maritime incidents decreased by around 16% in the last year (2,818 in 2025 compared to 3,353 in 2024), according to the company's figures.

In this regard, the Eastern Mediterranean and the Black Sea registered the highest number of incidents (622), followed by the British Isles (619), which also concentrate the highest number of incidents in the last decade. Likewise, machinery damage or failure was the main cause of incidents globally, accounting for more than half of the incidents (1,505), followed by ship collisions (260).

Finally, fires on large vessels, including container ships and car carriers, continue to be a cause for concern, with over 200 incidents recorded in 2025, fewer than in 2024, but still the second-highest total of the decade, with at least nine total losses. "Insurance markets react quickly to crises, but the real challenge for companies is understanding how risks are interconnected," said Justus Heinrich, Global Head of Marine Hull Products at Allianz Commercial. For this reason, Heinrich concluded that their role as an insurer focuses on "supporting clients in mitigating risks before they become significant loss events."