The war-risk market is set to increase rates in the Red Sea in response to this week’s bomb attack on a Hafnia tanker.
Brokers suggested that rates could shift closer to levels applied in the Middle East Gulf, where the threat to shipping is perceived as much higher.
The London insurance market’s Joint War Committee (JWC) is assessing the security threat following the explosion that damaged the port-side ballast and cargo tanks of the 76,600-dwt BW Rhine (built 2008), which was discharging a cargo of...
