News In Brief

Gulf's tanker traffic slips as insurance rates go up

Oil tanker traffic in the Persian Gulf has slipped to one-eighth of its usual volume because insurance rates have doubled and tripled after recent attacks on vessels in the critical oil corridor, ship brokers and insurers said Monday.

The sources, who declined to be identified because of the delicacy of the situation, said the drop in shipping occurred last week, when four ships, including three tankers, were struck by missiles from Iraqi or Iranian planes.

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...