Shipping
Red Sea insurance premiums surge as London market expands high-risk zone
London's Joint War Committee widened its 'high risk' zone in the Red Sea following Houthi attacks on Saudi-linked vessels. War risk premiums for Saudi Arabian ports north of Jizan, including Jeddah and Yanbu, jumped to 1% from 0.25% in 24 hours. Southern Red Sea voyages saw premiums rise to 1-2% from 0.3% before the July 20 Houthi maritime embargo announcement against Saudi Arabia.
