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Market
Change in maritime insurance rates in Red Sea by August 31?
5
Resolution / Starting Odds
Increased Rates • 34%
Decreased Rates • 33%
No Change • 33%
Industry reports from maritime insurance companies
Story
Significant Explosion Near Vessel in Red Sea, Southwest of Al Shuqaiq, UKMTO and UK Navy Report
Jun 5, 2024, 01:59 PM
A significant explosion occurred near a vessel 50 nautical miles southwest of Al Shuqaiq, Saudi Arabia, in the Red Sea, according to reports from the UK Maritime Trade Operations (UKMTO). The blast was reported by the master of a merchant vessel and described as significant, though no damage was found on the vessel. The UK Navy has also confirmed the incident, emphasizing the severity of the explosion. The incident has raised concerns about maritime security in the region, with hashtags #MaritimeSecurity and #MarSec being used to discuss the event.
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