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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
$ 1m to insure a tanker
Shipowners warned yesterday that soaring insurance premiums on tankers loading in the Middle East might add 50 cents a barrel to the cost of Iranian or Iraqi crude. London underwriters were asking for the equivalent of 1% of the insured value of the ship, amounting, in many cases, to $1m a voyage. This comes on top of higher oil prices and increased charter fees for large tankers.
News Item details
Websites:
http://www.guardian.co.uk
Organisation: OPEC
Subjects: Insurance, Trading, Transportation of products, Oil