Shipowners are weighing whether to reroute vessels away from the Strait of Hormuz to reduce risks to crews and cargo, even as they face mounting costs and delays on already stretched global trade lanes. According to reports, roughly 20% of the world’s supply passes through the Strait of Hormuz, together with a significant share of global liquefied natural gas (LNG) exports, so any sustained disruption to traffic through the waterway would have direct implications for energy markets, marine insurance and reinsurance, and broader supply chains.