Cost of insuring vessels in Strait of Hormuz more than halves — FT
War risk insurance premiums for vessels have dropped from around 5% to 2% of the ship’s value after accounting for discounts, according to the publication
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Summary
A Foreign Ministry official said on condition of anonymity Thursday that vessel movements through the strait are proceeding normally and that the issue appears to be moving toward resolution unless security conditions deter. Most South Korea-linked vessels stranded in the Strait of Hormuz following the recent Middle East conflict are expected to clear the strategic waterway within days, with the government expressing optimism that the long-running disruption to maritime traffic is nearing an end.
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A Foreign Ministry official said on condition of anonymity Thursday that vessel movements through the strait are proceeding normally and that the issue appears to be moving toward resolution unless security conditions deter
according to The Korea HeraldMost South Korea-linked vessels stranded in the Strait of Hormuz following the recent Middle East conflict are expected to clear the strategic waterway within days, with the government expressing optimism that the long-running disruption to maritime traffic is nearing an end.
according to The Korea Herald
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