Shipping insurance for Red Sea transit soars after mounting attacks in region

The cost of insuring vessels that will transit the Red Sea jumped again this week after mounting attacks in the region forced some ships to avoid the vital waterway.

Maritime Traffic In Bosporus Caused By Refusal Of EU Companies To Provide Insurance

The Turkish Maritime Authority on Thursday accused EU companies of refusing to provide insurance documents for the passage of oil tankers through the Black Sea Straits, and declared the unacceptability of applying pressure on Ankara.

Ankara demands ships prove insurance coverage to pass through Turkish Straits

Türkiye has started demanding that oil tankers passing through the Istanbul and Canakkale Straits confirm that they have insurance after some international companies canceled the coverage of numerous vessels due to sanctions imposed on Russia over the war in Ukraine, according to Turkish officials.