It’s actually less likely than you think. Even with the cost of insurance, the journey itself could still be profitable. But consider the risk of an attack - legal cases with the crew and negative press attention for “getting workers killed” (even if they volunteered) aside, the biggest risk is that you lose a ship you can’t replace just at a time when shipping rates might rise overall. New specialized tankers or other specialized cargo ships take a long time to make, you can’t just buy a new one off the shelf. So even if the insurance pays, you’re out a lot of revenue. All these things factor in.
p
It’s actually less likely than you think. Even with the cost of insurance, the journey itself could still be profitable. But consider the risk of an attack - legal cases with the crew and negative press attention for “getting workers killed” (even if they volunteered) aside, the biggest risk is that you lose a ship you can’t replace just at a time when shipping rates might rise overall. New specialized tankers or other specialized cargo ships take a long time to make, you can’t just buy a new one off the shelf. So even if the insurance pays, you’re out a lot of revenue. All these things factor in.
More options
Context Copy link