War risk rates fail to shift as Houthis tight-lipped on Gaza ceasefire deal

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War risks rates for shipping in the Red Sea have remained steady following the Middle East ceasefire deal as underwriters seek to claw back losses from the deadly Houthi campaign, according to market sources.

Underwriters will wait for evidence that the ceasefire between Israel and Hamas will hold before easing rates for ships travelling through high-risk areas in the Red Sea and Gulf of Aden, said one source.

Insurers are preparing for the return of Greek tanker owners to the region as tensions decline. Longer-term war-risk rates are also likely to fall, with new insurers preparing to join the market. 

Source War risk rates fail to shift as Houthis tight-lipped on Gaza ceasefire deal

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