All carriers owned by the National Shipping Company of Saudi Arabia (Bahri) are insured against all accidents, including political incidents, Okaz newspaper reported, citing Bahri’s CEO Abdullah Al-Dubaikhi.
Insurance companies compensate Bahri for any hits against its carriers, he said.
Bahri carriers, which require comprehensive and complex insurance system, is covered by an alliance of insurance firms, he said.
Insurance covers partial or complete damage of the carrier or shipments, as well as delays and any other risks, he added.
Last week, Yemeni Houthi rebels attacked two of Bahri’s very large crude carriers (VLCCs) in the Red Sea.
One of the two was hit and suffered minor damage, but there were no injuries or oil spills as a result, Argaam reported.
Saudi Arabia on Thursday temporarily halted all oil shipments through Bab El-Mandeb Strait with immediate effect following the attack.
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