Oil tanker insurance costs to jump after Gulf attacks


  • Business
  • Saturday, 15 Jun 2019

Tankers under attack: An Iranian navy boat sprays water to extinguish fire on an oil tanker in the sea of Oman on Thursday. Two oil tankers near the strategic Strait of Hormuz came under a suspected attack on Thursday, setting one of them ablaze in the latest mysterious assault targeting vessels in a region crucial to global energy supplies amid heightened tension between Iran and the United States. — AP

LONDON: Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels.

Both owners and the companies that charter their ships paused bookings on Thursday as they re-evaluated risks to shipping barrels from the Middle East in the wake of attacks on two more tankers just a month after similar incidents. Insurance costs from the region look set to rise too.

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