War Risk Insurance Soars As Tanker Rates Cross $300,000 Amid West Asia War
Edited By WION Video Desk
Published: Mar 05, 2026, 17:30 IST | Updated: Mar 05, 2026, 17:30 IST
Global shipping is under pressure as war-risk insurance premiums surge and tanker rates spike above $300,000 per day due to escalating tensions in West Asia. Major shipping companies like Maersk are rerouting vessels to avoid conflict zones, with Cape of Good Hope diversions adding 10–15 days to transit times. U.S. security assurances have helped calm oil markets for now, but trade disruptions continue to ripple across global supply chains.
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