War risk insurance premiums for shipments through the Red Sea are rising after further attacks on merchant vessels by Yemen’s Houthi movement and the expectation that ships with a UK or U.S. connection will be targeted, insurance sources said on Tuesday.
The Iran-aligned Houthis, who are well equipped and trained, have launched multiple attacks on ships in the Red Sea since November. They will expand their targets to include U.S. ships, a Houthi official said on Monday.
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