Group 1 - The conflict between the U.S. and Iran has led to significant disruptions in shipping through the Strait of Hormuz, causing oil supertanker costs in the Middle East to reach record highs [1][3] - The benchmark freight rate for Very Large Crude Carriers (VLCCs) has surged to an all-time high of $423,736 per day, reflecting an increase of over 94% from the previous close [2] - The Iranian Revolutionary Guards have claimed that the Strait of Hormuz is closed and warned of attacks on vessels attempting to pass through, although this has been disputed by U.S. military sources [4] Group 2 - Major marine war risk providers are withdrawing coverage for vessels operating in the Persian Gulf due to heightened security risks, impacting key shipping routes [2][5] - Charterers in the VLCC segment are retreating from the market and avoiding securing vessels due to increased threat levels around the Strait of Hormuz, despite the waterway not being officially closed [5]