LONDON, July 9. /TASS/. Insurance costs of ships sailing across the Red Sea have increased significantly after the Houthi rebels started attacking commercial vessels again, the Financial Times (FT) reports.
It may now cost as much $1 mln to insure a $100 mln worth vessel for a voyage.
According to Marsh McLennan dealing with risk management, the coverage of hostilities-related risks grew by July 8 to 1% of the total ship value, compared to the maximum of 0.4% before the Houthis attacked a Hellenic cargo ship. Experts warn further aggravation of the situation may push insurance tariffs even higher and disrupt global supply chains.