Insurers Raising Rates for Ships Taking the Red Sea Route After Attacks

According to a Reuters report, Insurers are set to raise the cost of providing cover for merchant ships through the Red Sea after a series of incidents that have hit vessels around Saudi Arabian waters, industry sources said.

The possibility of more attacks on commercial shipping carrying oil and commodities through these waterways is growing after the outgoing U.S. administration’s move to designate Yemen’s Iran-aligned Houthi movement as a foreign terrorist...

https://mfame.guru/insurers-raising-rates-for-ships-taking-the-red-sea-route-after-attacks/