Tagged:

West Africa Risks Losing Shipping Lines to European Markets

West African shipping companies are revising their business strategies in response to the escalating crisis in the Middle East. The closure of the Strait of Hormuz and insecurity in the Red Sea and Suez Canal are inflating operational costs, particularly insurance premiums, said chairperson of the Shipping Association of Nigeria (SAN) Boma Alabi said.

Maritime experts have warned that shipping firms may pivot to more lucrative European routes if the conflict persists, as suggestions emerge that some shipping companies may soon start charging War Risk Insurance charges on cargo headed to West Africa.

InFocus

Ian Taylor / Unsplash

(File photo)

Follow AllAfrica

AllAfrica publishes around 600 reports a day from more than 90 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.