Japan to Raise Iranian Crude Insurance
TOKYO (Dispatches) -- Japan is expected to increase its maximum insurance cover for tankers carrying Iranian crude in fiscal 2015-16 (April-March), due to an increase by the International Group of P&I Clubs and a weakening of the yen against the U.S. dollar, Platts reported.
The anticipated hike in the insurance, set to come into effect 1st April, follows a decision by the International Group of P&I Clubs to increase its maximum reinsurance cover by 2.5% year on year in its 2015-16 fiscal year, which started last Friday, sources told Platts.
The anticipated hike in the insurance, set to come into effect 1st April, follows a decision by the International Group of P&I Clubs to increase its maximum reinsurance cover by 2.5% year on year in its 2015-16 fiscal year, which started last Friday, sources told Platts.