Middle East Conflict Drives Spike in War Risk Insurance Costs
U.S. and Israeli attacks on Iran and Tehran's reprisals have doubled the price of insuring shipments to the Middle East and the Gulf in the last week, insurance sources said on Monday.
By Enas Alashray and Adam Makary
CAIRO, Aug 3 (Reuters) – A merchant vessel was hit by a missile 125 nautical miles east of Yemen‘s port of Aden, but “no fires, water ingress, or oil leaks were observed,” and the vessel is proceeding to its next port of call, British maritime agency UKMTO and British security firm Ambrey both confirmed on Saturday.
Earlier reports from UKMTO and Ambrey indicated that the vessel might have been hit by an unknown explosive, potentially causing a fire on board.
There were no injuries and all crew were reported safe, UKMTO and Ambrey said in their advisory notes.
UKMTO added that it was the same vessel it identified as the MV GROTON involved in an incident it reported earlier, 170 nautical miles also east of Aden.
Ambrey also reported the incident saying that it “assessed that the vessel had been targeted earlier today and reported a close-proximity explosion.”
Earlier on Saturday, U.S. Central Command (CENTCOM) said it destroyed a Houthi missile and launcher in Yemen.
If the Houthis claim responsibility, the incidents would be their first since Israel carried out a retaliatory airstrike against the group in the port of Hodeidah.
The Houthi attacks have drawn U.S. and British retaliatory strikes and disrupted global trade as ship owners reroute vessels away from the Red Sea and Suez Canal to sail the longer route around the southern tip of Africa.
Iran-aligned Houthi militants have launched attacks on international shipping near Yemen since last November in solidarity with Palestinians in the war between Israel and Hamas.
(Reporting by Adam Makary and Enas Alashray; editing by Andrew Cawthorne, Jason Neely and Nick Zieminski)
(c) Copyright Thomson Reuters 2024.
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