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Insurers charge war risk premiums from shippers

Container ship, Strait of Hormuz

Insurers have started charging war risk premiums from shippers in the Middle East after the Lloyd's Market Association included the Persian Gulf and Gulf of Oman to the list of high-risk areas, S&P Global Platts reported. Lloyd's Joint War Committee included the regions under increased hull war, piracy and terrorism risk after saboteurs attacked four Saudi oil tankers near Fujairah on May 12.

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