Chubb CEO Evan Greenberg said US efforts to reopen shipping lanes through the Strait of Hormuz should gradually increase vessel traffic, but the security situation remains highly unstable and can change day-to-day or hour-to-hour. He identified sea mines as the biggest uncertainty and said only a single narrow channel is currently usable, constraining the number of ships able to transit. The US Navy is working to open wider passages, and Greenberg said shipping activity will rise incrementally a

Chubb CEO Evan Greenberg said US efforts to reopen shipping lanes through the Strait of Hormuz should gradually increase vessel traffic, but the security situation remains highly unstable and can change day-to-day or hour-to-hour. He identified sea mines as the biggest uncertainty and said only a single narrow channel is currently usable, constraining the number of ships able to transit. The US Navy is working to open wider passages, and Greenberg said shipping activity will rise incrementally as that work progresses.