Vessel traffic through the Strait of Hormuz has sharply decreased following escalation of the Iran-Israel conflict between March 18 and 20, with at least three to four tankers damaged and approximately 150 ships stranded in the area. Major shipping lines have suspended Gulf bookings and introduced war risk surcharges. Marine insurers are reportedly canceling war risk coverage for vessels operating in the Gulf. The IMO has called for a safe evacuation framework as an estimated 20,000 seafarers remain trapped in the Middle East.