Al Qaeda, tanker insurance rates, mines among key war concerns

As war rages in the Middle East, military analysts said that Iraq's navy poses a minimal threat to shipping in the Persian Gulf, but attacks by the Al Qaeda terrorist network, led by Osama bin Laden, are a more likely problem.Also, insurance rates for oil tankers trading in the gulf may see a steep rise following reports of extensive mine-laying by Iraqi naval forces, on top of other perceived risks in the region, according to underwriters based in London."Reports of mining will actively focus the attention of insurance underwriters," Angus Wilson, a specialist in war and hull coverage for Ascot Underwriters, told OGJ Online. "Rates would doubtless go up, depending on the accuracy of...

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