Three months after the car carrier Galaxy Leader was hijacked in the Red Sea, attacks on merchant
shipping in the region have continued. Freight and insurance costs have risen with diversions around
the Cape of Good Hope, adding another three weeks to voyages. Munro Anderson, head of
operations at marine war risk insurer Vessel Protect, joins Argus' crude freight reporter Matthew
Mitchell to discuss the risks faced now by shipowners and charterers.
 
Key topics covered in the podcast:
 
How marine war risk insurance works
What war risk insurers consider and how quickly they can respond to events
The situation now in the Red Sea and how it has developed
The effectiveness of US, UK and coalition actions in the Red Sea and Gulf of Aden in reducing the risks
War risk insurers' approach to sanctions
The war risk situation in the Black Sea now
The outlook for marine war risk insurance