Israeli-owned ships are facing particularly high insurance rates due to being directly targeted as Red Sea shipping attacks continue, according to AM Best Senior Economist Graziano Brady. Some insurers are refusing to cover these ships altogether, he said.
Tag: Suez Canal
Suez Canal Blockage Could Drive $40B in Trade Disruption: Analysts
The Evergreen container ship currently blocking the Suez Canal after plunging one of the world’s busiest trade routes into chaos could be carrying goods worth $89 million and threatens to create more than $40 billion dollars of trade disruption, according to analysis from Russell. Reports on the still-unfolding event say rescue boats are working to… Continue reading Suez Canal Blockage Could Drive $40B in Trade Disruption: Analysts