Kathmandu. The closure of the Strait of Hormuz has left more than 1,200 cargo ships stranded in the region with $125 billion worth of goods, the British Financial Times (FT) reported, citing the latest report from insurance company Allianz.

Allianz’s head of sea, Justus Henrique, told the British daily Financial Times that the shutdown had changed the risk-taking pattern for insurers at checkpoints.

After the announcement of the agreement between the United States and Iran and the decision to open the Strait of Hormuz, transportation has gradually eased.

Official figures showed 69 ships left the Gulf in the previous week, up from 24 a week earlier, the highest weekly shipments since the conflict erupted in February.

The conflict caused serious casualties, human casualties, and financial losses, as well as having to stay at sea for a long time, causing a crisis among the crew members. According to the International Maritime Organization, 14 boaters have died and more than 40 ships have been hit by missiles.