Attack on ship off India’s west coast can raise war risk premiums as security tightens
India has deployed missile destroyers in the Arabian Sea following the drone attack on a chemicals tanker off its west coast as market participants cautioned Dec. 26 that previously-stable war risk premiums could potentially rise. “So far, the additional war risk premia in the Persian Gulf and the Arabian Sea is stable. It is only in the Gulf of Aden and adjoining region of the Red Sea that costs have gone up,” said a chartering executive with a global commodities trading company. However, if the area of attacks widen, it ...
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