No. of Recommendations: 2
The situation is in flux. The Macro trend could shift radically and suddenly.
I posted an article on the Policy board, last night. Insurance companies are cancelling coverage for ships in the Gulf. Unless the Saudis feel like underwriting everything, doesn't matter if they want to increase production, because no-one will risk a multi-million dollar ship, with a multi-million dollar cargo, in the middle of a shooting war.
We old phartz remember when Iran was planting mines in the Gulf. USN ships started escorting tankers. Turned out, a tanker could take a mine hit better than a frigate, so the tankers ended up breaking trail for the frigates. Seems the threat environment now is much higher than in the 80s.
Steve
