Saudi oil export costs rise amid Red Sea risks
pre-market1 source ↓written by the desknot a recommendation
- of a vessel's
- 3%
- ports can reach
- 7%
- per day
- ₹500,000
- or more
- ₹100,000
Saudi Arabia's workaround for the Strait of Hormuz has led to tripled war-risk insurance premiums, now around 3% of a vessel's value. Premiums at southern ports can reach 7%, adding millions to cargo costs. Charter rates exceed ₹500,000 per day, with bunker fuel costs adding another ₹100,000 or more. ⚓️
Not investment advice. For informational purposes only.