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Insurance Rates for Crude Oil Tankers to Jump After Gulf Attacks

June 14, 2019

Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels.

Both owners and the companies that charter their ships paused bookings on Thursday as they re-evaluated risks to shipping barrels from the Middle East in the wake of attacks on two more tankers just a month after similar incidents. Insurance costs from the region look set to rise too.

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