War Risk Insurance Spirals Higher for Middle East Tankers
Alex Longley, Sheela Tobben, and Ann Koh June 15, 2019
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.