Trump says US will provide insurance, military escort for ships in Hormuz in International Shipping News 04/03/2026 President Donald Trump announced Tuesday that the U.S. Development Finance Corporation will immediately provide political risk insurance and guarantees for maritime trade through the Gulf, with the U.S. Navy prepared to escort tankers through the Strait of Hormuz. The president said in a post on Truth Social that the insurance and guarantees will be available to all shipping lines at “a very reasonable price,” particularly for energy shipments. Trump stated the U.S. will ensure the free flow of energy to the world, citing the country’s economic and military strength. The announcement comes as the war between the U.S. and Israel with Iran has disrupted traffic through the Strait of Hormuz, a critical passage for global energy supplies. The strait carries roughly one-fifth of the world’s oil consumption and large quantities of gas. Shipping through the waterway has nearly stopped as the fighting engulfed. Iran declared the strait closed and threatened to attack ships passing through. At least five tankers have been damaged and two personnel killed, with about 150 ships stranded around the strait, which separates Iran and Oman. Several major shipping companies, including Maersk, announced they are halting operations in the strait. Oil prices have risen dramatically since the conflict began with Crude Oil WTI futures trading above $77 at one point. It has since pulled back into $73 territory. Source: Investing.com 2026-03-04 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share