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Indian shippers lament higher cargo premiums

Posted On: Aug. 5, 2019 7:52 AM CST

Indian firms importing crude oil, petroleum products, chemicals and fertilizers from the Arabian Gulf are paying "phenomenally higher" cargo insurance premium to cover war and strikes, The Hindu Business Line reports. The rise is the result of global marine underwriters charging extra premium to insure cargo transiting through the Strait of Hormuz.

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