Lloyd’s Halts War Risk Cover for Saudi Shipping in Red Sea After Houthi Attacks on Tankers
Lloyd’s of London insurers have stopped writing new war-risk coverage for cargoes linked to Saudi Arabia in the Red Sea, instructing brokers to exclude any vessel with "Saudi touchpoints" including foreign-flagged ships that previously called at Saudi ports. Some underwriters are also preparing to cancel existing policies.
The withdrawal follows multiple incidents in the region, including a report to the UK Maritime Trade Operations on July 24 of an unknown projectile splashing near a Saudi-flagged tanker. Houthi fighters stated the strike on an Aramco refinery in Jizan marks the opening phase of a campaign that will target ports and infrastructure. Cargoes are already rerouting around the Cape of Good Hope, extending transit times by roughly a month to East Asia as Saudi Arabia seeks to manage flows through its Yanbu terminals.
From the sources (25 posts)
@staunovoThe insurance cost of shipping goods through the southern Red Sea doubled for some companies on Thursday, after Yemen's Iran-aligned Houthis attacked at least one tanker overnight, sources said. On Thursday, the sources said, indicative wa
@polymarketJUST IN: War-risk insurance costs have reportedly doubled for some southern Red Sea voyages following Houthi threats.
@staunovoThe head of the International Maritime Organization (IMO) condemned the latest attacks in the Red Sea, saying they threaten seafarers, international shipping, global supply chains and the marine environment. "The Red Sea is a critical mari
@iranobserver0⚡️JUST IN; The Houthi Blockade of Saudi Arabia has Increased travel time from Saudi Ports to East Asia from 19 Days to 48 days Another major Problem that Saudi Arabia faces is that the Suez Canal is not built for Supertankers Saudi oil mu
@megatron_ronNEW: 🇸🇦🇾🇪 Giant Saudi oil tankers began using the Suez Canal to cross to Asia after the Ansar Allah blockade and attacks
@ajenglishDanish-flagged oil products tanker Torm Innovation will sail to Asia via the Suez Canal with its cargo due to the security situation in the southern Red Sea, says the vessel’s owner Torm. 🔴 LIVE updates: https://t.c
@jackprandelli🇸🇦Saudi crude bound for Asia now has 2 options. 19 days through Bab el-Mandeb, a route under active attack. 48 days around Africa, adding a full month. Every producer sitting outside these chokepoints becomes a more reliable supplier by
@lrozenRT @FT: Ship insurers restrict war coverage for Saudi Arabian cargoes in Red Sea
@menchosintRT @bonzerbarry: FT: Maritime insurance company Lloyd's of London are informing brokers to exclude ships with any connection to Saudi Arabi…
@mossadilSUSPICIOUS PROJECTILE REPORTED NEAR TANKER IN RED SEA UK Maritime Trade Operations says it received a report of suspicious activity in the southern Red Sea after a tanker observed an unknown projectile splash into the water close to the ve
@bricsinfoJUST IN: Oil tanker attacked in the Red Sea.
@sentdefenderThe United Kingdom Maritime Trade Operations Center has issued an advisory for vessels transiting the Southern Red Sea near the Bab al Mandeb Strait after receiving a report from a tanker that witnessed a splash from an unknown projectile i
@me_observer_⚡️⭕️ Red Sea: Saudi vessel targeted. Preliminary information indicates a new Saudi ship was attacked in the Red Sea. (Rasd Akhbar Shehaba, Iran Militarism)
@clashreportTop Lloyd's of London marine war insurers have told brokers they'll stop selling war cover for Saudi-linked cargoes in the Red Sea after Houthi attacks on two Saudi tankers, and some are preparing to cancel existing policies. The exclusio
@menchosintUKMTO report that a tanker witnessed a splash from a projectile in close proximity of the vessel, on July 24, the same day Saudi tanker NCC MASA was struck.
@iranintl_enAn unknown projectile struck the water close to a vessel in the southern Red Sea on Friday, UK Maritime Trade Operations said on Sunday. The vessel and crew were safe, while any environmental impact remained unconfirmed as authorities were
@osint613UKMTO has released details of a previously unreported maritime security incident that occurred on July 24 what appears to be part of the new Houthi terror operation against Saudi Arabia in the southern Red Sea. According to the advisory, a
@me_observer_⚡️⭕️ Red Sea: Oil tanker incident reported by UK Maritime Trade Operations occurred two days ago, not recently as initially reported — the vessel collided with an unknown object. (IRIB News)
@iranobserver0⚡️BREAKING: Insurance companies have Stopped Insuring ships with connections to Saudi Arabia in the Red Sea due to the Houthi Threat Now all the Oil Producing Countries in the Middle East face Higher insurance costs Oil Prices may go Up
@iranintl_enThe Joint Maritime Information Center reported two maritime security incidents involving tankers in the Gulf of Oman and southern Red Sea in an update listing confirmed incidents since its previous report. UK Maritime Trade Operations rece
@trenttelenkoRT @clashreport: Top Lloyd's of London marine war insurers have told brokers they'll stop selling war cover for Saudi-linked cargoes in the…
@trenttelenkoRT @MarioNawfal: 🇸🇦🇾🇪 Lloyd's of London, the world's largest insurance marketplace, has told the Saudi shipping industry that they'll stop…
@marionawfal🇸🇦🇾🇪 The Houthis are threatening a major escalation against Saudi In a new statement, they described yesterday's alleged strike on a Saudi Aramco facility in Jizan as just the opening phase of a broad campaign that will go beyond immediat
@marionawfal🇾🇪 Are the Houthis at it again? A ship transiting the Red Sea reported an "unknown projectile" nearly hit their ship, splashing into the water close by Source: UKMTO / Writer: Ian
@marionawfal🇾🇪🇸🇦 The Houthis claim to have shot down a Turkish-made Bayraktar Akinci drone operated by the Royal Saudi Air Force over the al-Jawf Governorate, northern Yemen. And in case you were wondering, it's not a small surveillance drone. It's