business
Saudi Oil Export Costs Surge as Red Sea Risks Mount
Saudi Arabia’s workaround for the Strait of Hormuz now carries a war-risk insurance bill nearly as expensive as sending tankers through Hormuz itself. Quoted premiums for Saudi-linked tankers calling at the Red Sea port of Yanbu have tripled to around 3% of a vessel’s value from less than 1% in early July, according to Reuters. At Saudi ports farther south, including Jizan, quoted premiums can reach 7%. Hormuz voyages are running between 6% and 9%. That adds millions of dollars to every cargo. A
ONLY AVAILABLE IN PAID PLANS
Read Full ArticleShare this story
Up next
Related Stories
Crude Oil: न अमेरिका-ईरान के बीच डील हुई, न होर्मुज खुला, फिर भी गिरे कच्चे तेल के दाम, 3-हफ्ते से निचले स्तर पर क्रूड
Zee News Hindi Business
सरकार ने PPF-सुकन्या समृद्धि में निवेश करने वालों को दी खुशखबरी, आज से लागू होगा यह नियम
Zee News Hindi Business
Alibaba Stock: The Ant Group Stake Needs To Be Repriced (NYSE:BABA)
seekingalpha.com
Cornell agrees to outside review into university's handling of gang rape allegation, Hochul says
yahoo.com
US-Iran war news LIVE: Strait of Hormuz tensions rise as 3 ships struck by unknown projectiles - British maritime agency
Livemint