{"id":286032,"date":"2019-08-05T06:36:41","date_gmt":"2019-08-05T06:36:41","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=286032"},"modified":"2019-08-05T06:36:41","modified_gmt":"2019-08-05T06:36:41","slug":"oil-firms-shop-for-separate-war-risk-cover-as-premium-on-cargo-transiting-strait-of-hormuz-spikes-up","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-firms-shop-for-separate-war-risk-cover-as-premium-on-cargo-transiting-strait-of-hormuz-spikes-up\/","title":{"rendered":"Oil firms shop for separate war risk cover as premium on cargo transiting Strait of Hormuz spikes up"},"content":{"rendered":"<p>Indian entities importing crude oil, petroleum products, chemicals and fertilisers from the tension-ridden Arabian Gulf are paying \u201cphenomenally higher\u201d cargo insurance premium to cover war and strikes, after global marine underwriters imposed extra premium to insure cargo transiting through the Strait of Hormuz &#8212; the world\u2019s busiest oil shipping lane &#8212; in the wake of tough measures taken by the US on Iran over its nuclear programme. <\/p>\n<p>Typically, cargo insurance clauses exclude war and strikes, but by attaching the war and the strikes clause, they get restored. Before tensions built up in the region, full-fledged cargo cover was available at about 0.0006 per cent of the cargo value, as competition among global underwriters to grab \u201cmore market share and volumes\u201d drove down premium costs substantially.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian entities importing crude oil, petroleum products, chemicals and fertilisers from the tension-ridden Arabian Gulf are paying \u201cphenomenally higher\u201d cargo insurance premium to cover war and strikes, after global marine underwriters imposed extra premium to insure cargo transiting through the Strait of Hormuz &#8212; the world\u2019s busiest oil shipping lane &#8212; in the wake of tough measures taken by the US on Iran over its nuclear programme. Typically, cargo insurance clauses exclude war and strikes, but by attaching the war and the strikes clause, they get restored. Before tensions built up in the region, full-fledged cargo cover was available at [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-286032","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=286032"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286032\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=286032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=286032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=286032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}