Marine insurance companies impose additional fees on Israeli, American, and British ships

Marine shipping insurance companies have imposed additional fees of up to 50% on ships associated with American, British, and Israeli companies for war risk premiums when sailing in the Red Sea, while other service providers completely avoid such actions due to the inclusion of these ships as targets by Yemen.

Exclusive – Al-Khabar Al-Yemeni:

Marine shipping companies state that declared war risk premiums for Red Sea voyages have increased to approximately 1% of the vessel’s value, up from around 0.7% previously. This translates into hundreds of thousands of dollars in extra costs for a seven-day journey.

“The ships that have encountered problems so far almost all have some elements of Israeli, American, or British ownership somewhere,” according to Marcus Baker, Global Head of Marine and Cargo at Marsh, stated to Business Insurance.

Ships have started adding messages to their public ship tracking profiles indicating that they have no association with American, British, or Israeli companies.