Several marine insurers said they are cancelling war risk cover for ships due to the conflict in Iran and the Gulf. Insurers including Gard, Skuld, NorthStandard, the London P&I Club and the American Club said their cancellations will take effect from 5 March.
According to notices dated 1 March on their websites, war risk cover will be excluded in Iranian waters, as well as the Gulf and adjacent waters.
Skuld added in its notice that it was working on a buy-back option to reinstate cover.
Japan's MS&AD Insurance Group told Reuters it had suspended underwriting of a range of insurance policies covering war risks in the waters around Iran and Israel and neighbouring countries.
Tensions in the Middle East have escalated sharply after the U.S. and Israeli forces launched strikes on Iran over the weekend, prompting Tehran to say it had closed navigation through the Strait of Hormuz, a key chokepoint for global oil and gas flows.
Several tanker owners, oil majors and trading houses have since suspended crude, fuel and liquefied natural gas shipments through the narrow waterway, and satellite data has shown vessels accumulating near key United Arab Emirates ports such as Fujairah.
Ship-tracking data on Sunday showed the disruption growing, with at least 150 tankers - including crude and LNG carriers - anchored in open Gulf waters beyond the Strait of Hormuz and dozens more stationary on the other side of the chokepoint.
The risks intensified further after at least three tankers were damaged off the Gulf coast and one seafarer was killed.
This is the last of four articles in AnewZ's series examining how conservationists are working to protect and repair damage done to the Aral Sea whi...
Iran's Supreme Leader, Mojtaba Khamenei, has promised to avenge the killing of his father, while U.S. President Donald Trump said Tehran and Washingto...
Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Sayyid Badr Albusaidi have discussed arrangements to ensure the safe passage of shi...
Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Sayyid Badr Albusaidi have discussed arrangements to ensure the safe passage of ships through the Strait of Hormuz.
The U.S. Department of Justice has ordered several New York Times journalists to testify before a federal grand jury.
At least 44 people have died and more than one million have been stranded due to widespread flooding and landslides across southeastern Bangladesh, authorities said on Saturday (11 July).
More than 100 countries now spend more on servicing debt than on education, UNESCO has warned, as it called on governments and international lenders to expand the use of debt-for-education swaps.
At least 12 people have been killed in forest fires in Almeria in southern Spain, Andalucía’s emergency agency has said, as firefighters continue efforts to put out the blaze.
U.S. President Donald Trump said Washington has agreed to resume talks with Iran after Tehran requested further negotiations, but declared that last month's ceasefire between the two countries was "over".
What began as a fan-created chant just months ago has become one of the defining images of this year's FIFA World Cup, with Norway's "Viking Row" sweeping through stadiums, city streets and social media.
Dozens of flights have been cancelled across East Asia as Super Typhoon Bavi approaches China. The typhoon, which has maximum sustained winds of 162 kph (100mph), is nearing a remote chain of Japanese islands, east of Taiwan on Friday.
British police have arrested a 26-year-old man on suspicion of the murder of Ann Widdecombe, a former government minister whose death was announced on Friday.
This is the last of four articles in AnewZ's series examining how conservationists are working to protect and repair damage done to the Aral Sea which lies between Uzbekistan and Kazakhstan.
At least 44 people have died and more than one million have been stranded due to widespread flooding and landslides across southeastern Bangladesh, authorities said on Saturday (11 July).
Turkish prosecutors have ordered the detention of 36 people, including the mayor of an Ankara district controlled by the main opposition, over alleged bribery and tender-rigging.
Temperatures above 40°C are scorching parts of Central Asia, prompting the World Health Organization to warn that extreme heat is becoming an increasing public health threat across the region.
This is the third of four articles in AnewZ's series examining how conservationists are working to protect and repair damage done to the Aral Sea which lies between Uzbekistan and Kazakhstan.
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