Another tanker was attacked by gunmen in a speedboat and targeted with missiles, in the Red Sea, off Yemen’s coast.
A long history of providing liability insurance for owners and operators of tugs and barges.
The United Nations’ shipping agency on Wednesday adopted a resolution targeting illicit shipping practices from the so-called unregulated “shadow fleet” in an effort to clamp down on unsafe activities at sea.
Fresh attacks on vessels in the Red Sea are raising insurance premiums for ships in the region and menacing commerce in a conduit for 12% of world trade.
War-risk premiums for some vessels have been climbing since shortly after the outbreak of the Israel-Hamas war in early October, according to people involved in the market. Though the increases haven’t been big, they are a sign of the growing threat to merchant shipping in the waterway.