Guilded News EP7

Episode Notes: EP6 ran the pricing power stress test. EP7 is the transmission layer — how the stress propagates through insurance markets, contract language, and European balance sheets. Segment 1 — The Insurance Freeze: War-risk coverage cancelled by the International Group of P&I Clubs for the Persian Gulf and Strait of Hormuz. VLCC day rates hit a record $423,736/day (+94% in one week). Container surcharges: Hapag-Lloyd $1,500/TEU, CMA CGM $2,000–$3,000/TEU, Maersk pending. ~60 containerships at anchor outside Hormuz. The US is considering a tanker insurance backstop — the third time in 40 years government has considered becoming insurer of last resort, after Operation Earnest Will (1987) and TRIA (2002). The insurance freeze doesn't reverse on a geopolitical headline. It reverses on actuarial logic, months later. S ...