After recent attacks, fees for using Suez Canal rises in Red Sea. Ships now using the longer route around the cape of good hope. Watch to know more!
#redsea #suezcanal #insurance
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Now in the past few days attacks on shipping in the Red Sea region have led to Sharp rise in the number of grain cargos being diverted around the Cape of Good Hope instead of using the sus Canal experts have pointed out War Risk insurance premiums for shipments through
The Red Sea are rising after further attacks on Merchant vessels by Yemen’s houti movement now the Iran aligned houthis who are well equipped and trained have launched multiple attacks on ships in the Red Sea since November on Monday a houti official claimed that they will expand their targets to
Include us ships experts claim that a combination of higher insurance rates and also Rising fees for using the SS Canal which means that it is becoming cheaper to take the longer route this in return will result to less certainty with regards to delivery timings now even before the recent houti
Attacks the London Insurance Market listed the southern Red Sea among its highrisk areas the market added that ships need to notify their insurers when sailing through such areas and pay an additional premium insurance insurance industry sources said that war risk premiums had risen to around 1% of the value of a
Ship from 7% last week now this translates into hundreds of thousands of dollars of additional costs for a 7-Day Voyage ahead of operations at Marine War risk and Insurance Specialist vessel protect has cautioned that in addition to Israeli connected vessels there is an elevated threat to vessels associated
With the UK United States including dependent flags as well as those connected to Australia the Netherlands Bahrain and Canada