Free Republic

When the seven P&I clubs belonging to the International Group issued 72-hour cancellation notices for war risk coverage in the Persian Gulf on March 5, they did not just raise costs. They made transit impossible. P&I clubs insure roughly 90 percent of the world’s ocean-going tonnage. Without their coverage, ships cannot sail. Port authorities will not let them dock. Banks will not finance the cargo. Charterers will not book the vessel. The entire system, from loading berth to discharge terminal, is underwritten by a chain of contracts that begins with a club in London, Oslo, or Tokyo. When the clubs...

Don't misunderstand what I'm about to say. The war in Iran will continue for at least another week, according to President Donald Trump, and probably much longer. There are still hundreds, maybe thousands of targets, human and places, to destroy, thousands of sorties to be flown by U.S. and Israeli forces, and American naval assets will soon be joined by up to 5,000 Marines. There undoubtedly will still be casualties to come, joining the 13 we've already lost in the last fortnight. But not only are we winning this war against Iran, the killer move that all but assures the...

The U.S. military devastated the military installations on Kharg Island, Iran’s major oil transport facility, but left the oil infrastructure alone. President Trump threatened to blow up the oil facilities, too: “The United States Central Command executed one of the most powerful bombing raids in the History of the Middle East, and totally obliterated every MILITARY target in Iran’s crown jewel, Kharg Island,” Trump said in a statement Friday evening, referring to an island in the Persian Gulf where most of Iran’s oil is processed. “I have chosen NOT to wipe out the Oil Infrastructure on the Island. However, should...

U.S. forces shot down an Iranian drone that flew towards a U.S. Navy aircraft carrier in the Arabian Sea on Tuesday, U.S. Central Command confirmed. The military said the drone "aggressively" approached the USS Abraham Lincoln as it was crossing through the Arabian Sea roughly 500 miles from the southern coast of Iran and "unnecessarily maneuvered" toward the ship. U.S. Central Command spokesman Capt. Tim Hawkins said the drone continued to flew toward the carrier "despite de-escalatory measures taken by U.S. forces operating in international waters." The drone was shot down by a F-35 fighter jet, and no American service...

The U.S. Navy stands ready to ensure free navigation and the flow of commerce, the U.S. military’s Central Command said on Thursday, as Iran’s Revolutionary Guards warned they would block oil shipments through the Strait of Hormuz if necessary. Iranian President Hassan Rouhani and some senior military commanders have threatened in recent days to disrupt oil shipments from the Gulf countries if Washington tries to cut Tehran’s exports.