Maritime risk at 16-year high after tankers targeted again
Crews were rescued after abandoning two oil tankers hit by explosions in the Gulf of Oman a month after four other tankers came under attack in the region
Michelle Wiese Bockmann
THE risk and cost of commercial shipping in a crucial Middle East trade lane dramatically escalated on Thursday after attacks on another two tankers in the Gulf Oman triggered the most significant maritime security alert since 2003.
Marine insurers are set to raise premiums to transit the Strait of Hormuz, through which 16.8m barrels per day of oil transits, as shipowners reassess the safety of calling at ports in Gulf countries.
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