News - World: The British maritime newspaper Lloyd's List confirmed that ships associated with Israel, the United States, and Britain are facing significant insurance challenges due to Yemeni operations in support of Gaza. These ships are now required to pay extremely high insurance premiums, and many companies are refusing to cover them entirely because they are vulnerable to attacks.

In a report published on Friday, the newspaper stated that ships believed to have ties to the United Kingdom, the United States, or Israel have also been forced to pay higher premiums for coverage as a result of Yemeni attacks targeting these vessels.

The report added that the situation has now reached a point where insurance may not be available for these ships at all, or at least not at rates that are economically viable for operators. This indicates that some insurance companies are refusing to cover these ships, even though their owners are willing to pay high premiums.

The newspaper pointed out that since the start of Yemeni naval operations in support of Gaza last November, war risk insurance premiums have increased by millions of dollars.

It also highlighted that US and British strikes on Yemen, as part of the so-called Operation Poseidon Archer, "will have cost hundreds of millions of dollars over the past eight months and will have claimed innocent lives by way of collateral damage. But it has clearly done little to quell Houthi capacity to launch drone and missile strikes against merchant shipping." 

The report concluded that the rationality of continuing this initiative must be open to debate.

Earlier, Reuters revealed that war risk insurance premiums for ships targeted by Yemeni Armed Forces doubled after the seizure and burning of the tanker Sonion, jumping from 0.4 percent to 0.75 percent of the ship's value. Meanwhile, ships not at risk of attack still maintain lower insurance rates.

The rise in insurance costs has contributed to a significant increase in shipping expenses to the US, Britain, and Israeli ports. Since the start of Yemeni operations, shipping costs to these three destinations have nearly quadrupled, in addition to significant delays caused by targeted ships being forced to reroute around the Cape of Good Hope. This continues to cause disruptions in American, British, and Israeli trade.

#Yemen #US #Israel #UK #Red Sea About 2 months