War Risk Insurance Spirals Higher for Middle East Tankers
- Premiums are soaring after second spate of attacks near Gulf
- Owners seen temporarily wary of taking bookings from region
This article is for subscribers only.
Oil tanker owners face spiraling insurance costs to load cargoes from the world’s largest crude-export region after the latest round of attacks on vessels.
War risk premiums that owners pay each time they go to the Persian Gulf have now surged to at least $185,000 for supertankers, according to people with knowledge of the market. They rose to $50,000 after the attacks a month ago.