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INTERTANKO Gaps in War Risks Clauses
11 June 2026
War risks clauses remain an essential component of tanker charterparties. However, they should not be viewed as comprehensive risk allocation tools.
Recent events affecting the Strait of Hormuz illustrate that, in extreme scenarios, significant gaps may arise, particularly in relation to delay, cost allocation, insurance interaction and circumstances in which vessels become effectively trapped.
During periods of heightened geopolitical tension, these issues can give rise to substantial commercial uncertainty and financial exposure for both Owners and Charterers.
Against this background, this guidance assesses:
- the primary risks arising under both time and voyage charterparties;
- areas where war risks clauses may be insufficient in time charters, voyage charters, or both;
- issues that are not covered by war risks clauses;
- practical steps owners can take to mitigate exposure; and
- key considerations for future contractual negotiations.
