west african shipping companies are revising their business strategies In response to the growing crisis in the Middle East. Boma Alabi, president of the Shipping Association of Nigeria (SAN), said operating costs, especially insurance premiums, are increasing due to the closure of the Strait of Hormuz and insecurity in the Red Sea and Suez Canal.
Shipping companies could turn to more lucrative European routes if the conflict continues, maritime experts have warned, as suggestions emerged that some shipping companies could soon start charging war risk insurance fees on cargo headed to West Africa.
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Many countries are activating emergency plans for their citizens in the Middle East as increasing attacks have lit a fuse price of oil and gold — “conflict objects” that, for various reasons, often reflect geopolitical tensions, reports Ed Stoddard for Daily Maverick.
Meanwhile, South African President Ramaphosa
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