10-fold.

This is coolbert:

As it was for the Ukraine Conflict in 2022 so as it is now for Israel in 2023?

The Taiwanese merchant merchant shipping company Evergreen declaring force majeure. Contracts unable to be fulfilled due to extenuating circumstances!

"War risk insurance rates have soared more than 10-fold in the past few days to Israeli ports with growing concerns over an escalation in hostilities."

"Evergreen declares ‘force majeure’ for Israel stop"

From Reuters via https://www.taipeitimes.com , JERUSALEM | Oct 19, 2023.

"Taiwanese container shipping line Evergreen Marine Corp . . . has declared force majeure on a shipment to the Israeli port of Ashdod, with its Ever Cozy vessel diverted to Haifa due to safety concerns, a customer note said."

From the wiki explaining force majeure:

"In contract law, force majeure . . . is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, epidemic, or sudden legal change prevents one or both parties from fulfilling their obligations under the contract."

"This is one of the first force majeures declared since Hamas launched attacks on Israel on Oct. 7 and amid preparations by Israel’s military to launch ground operations into Gaza in retaliation."

See previous blog entry the declaration of force majeure the Ukraine Conflict:

https://militaryanalysis.blogspot.com/2022/03/blocked.html

coolbert.