Transport Infrastructure
Sources say that the cost of insurance for Israel war-risk ships has risen after Iranian attacks
Industry sources reported on Tuesday that war risk insurance premiums are up to three times more expensive for shipments going to Israel as the conflict between Israel and Iran enters its fifth day. They said that the cost of a 7-day trip to Israeli ports ranged from 0.7% to 1.00 % of the ship's value, as opposed to around 0.2% last week. Underwriters may price risks and rates differently. This will result in tens or thousands of dollars extra per day for each voyage. David Smith, the head of marine at insurance broker McGill and Partners said that rates for...