War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said on Monday, reports Reuters.
War risk insurance
Yemen’s Iran-backed Houthi group claimed drone and missile attacks on what it said were two Israeli vessels in the area.
“It has now become clear the Houthis will attack anything at sea with links to Israel or Israelis, regardless of how feeble the links may be, and regardless of the potential for collateral damage to non-Israelis, for example, crew members,” Jakob Larsen, head of maritime safety & security with shipping association BIMCO, told Reuters.
Israeli military spokesperson Rear Admiral Daniel Hagari said the two ships cited by the Houthis had no connection to Israel. U.S. Central Command said the three vessels were connected to 14 separate nations.
Larsen said the industry would welcome a strengthened naval presence in the area.
“Faced with a threat from military formations such as the Houthis, merchant ships rely on protection from naval units,” he said.
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Source: Reuters
