Yemen and the Red Sea

War-risk premiums for tankers calling at Yanbu rise to about 3 percent of vessel value

ASSESSMENT
Location
Saudi Arabia
Actors
Saudi Arabia
Importance
Standard

War-risk insurance premiums for Saudi-linked tankers calling at Yanbu have risen to about 3 percent of vessel value, roughly triple the level of recent weeks for a loaded sailing. Quotes discussed for Saudi ports south of Yanbu, and for some transits linked to the Strait of Hormuz, were as high as about 7 percent or several million dollars. Oil loadings at Yanbu's main port have not resumed, and at least one tanker operator is avoiding Saudi ports because a call at Yanbu would expose a ship to attack risk.

Verification: unverified

Evidence: Insurance for a loaded tanker from Yanbu triples; loadings have not resumed, War-risk premiums for Saudi-linked tankers at Yanbu near 3 percent of vessel value

Single interested-party outlet relaying a wire claim; premium figures and the loading status are not independently corroborated.