2023-10-10 16:33:41
Activity at Israeli ports is slowing following attacks by the Islamist group Hamas on Saturday on towns near Gaza, and the cost of insurance premiums for Israeli shipments is soaring as food stocks tighten, according to sources and data.
The southern Israeli coastal city of Ashkelon, which has a small port within range of Hamas rockets, does not allow ships to enter, according to maritime sources.
While the main Israeli ports of Ashdod, further up the coast, and Haifa, to the north, remain open, shipping and maritime security companies are reviewing their operations for Israel, according to industry sources.
“Israeli ports are considered to be at increased risk,” said Noah Trowbridge of British firm Dryad Global, which specializes in maritime risk advisory and security.
“With continued rocket barrages expected from Gaza and the possibility of prolonged conflict, damage to port infrastructure is becoming increasingly likely.
Ashdod Port said workers continued to work regularly despite the emergency situation.
“The port’s berths are open as much as necessary and we offer a response to all of Israel’s needs,” the Port of Ashdod said in a statement.
German container shipping company Hapag Lloyd told Archyde.com that Ashdod port had imposed restrictions on the loading or unloading of dangerous cargo, which includes flammable, explosive or toxic substances, adding that the company was monitoring its shipping services to Israel.
Shipping brokerage firm BRS said security had been increased at Israeli ports, adding that the main threat to shipping to Israel came from rockets fired from Gaza and “hostile forces” on the ground in Israel following the infiltration of Hamas fighters into the country.
“Given that Gaza has a coast, direct threats to navigation in Israeli waters cannot be ruled out,” BRS said.
Israel is among the Middle Eastern countries already considered a high-risk area by insurers in the London market, a key center for marine insurance coverage.
Ships pay an additional war risk premium for seven-day voyages to Israel. Since Saturday’s attacks, additional premiums have increased tenfold to approximately 0.15-0.2 percent of a vessel’s value, translating into tens of thousands of dollars in additional costs. By comparison, the premium was 0.0125% at the start of the year, according to insurance sources.
EMPTY SHELVES
Almost all of Israel’s trade is carried out by sea. Israel is a food producer, but it relies on imports for the majority of its grain needs, as well as quantities of fish, beef, nuts and consumer food products.
Residents across the country reported that many neighborhood supermarkets had empty shelves and low stocks of basic food items as consumers stocked up in anticipation of a prolonged war.
The Israeli army’s Home Front Command posted its standing emergency preparedness guidelines online Monday, which call for families to collect three days’ worth of water and food, as well as medicine and flashlights.
Danish container shipping group AP Moller Maersk said on Tuesday it continues to accept reservations for containers to and from the country.
Israel’s main container carrier, Zim, said it was making its vessels available for “national needs.”
“The company’s ships will be tasked, as a priority, with transferring goods from anywhere in the world to Israel, in accordance with the requirements and needs of the Ministry of Defense and the Israeli government,” said ZIM CEO , Eli Glickman, on Facebook.
Merchant shipping connected to Israel faces increasing risks.
INTERTANKO, the association that represents the majority of the world’s tanker fleet, said in a notice to its members this week that following the Hamas attacks it expected tensions to increase in the Middle Gulf. -Wider East and the Gulf of Oman, with increased risks for shipping linked to Israel.
Ships and cargo with a connection to Israel or Israeli nationals (however tenuous) have also been subject to attacks, INTERTANKO said. (Reporting by Jonathan Saul and Ari Rabinovitch; Writing by Sharon Singleton)
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