A complex oil transfer from the FSO Safer, a decaying tanker moored off Yemen's coast, is imminent now that insurance for the operation has been finalized, authorities said
Decaying vessel FSO Safer is moored off the coast of Ras Issa, Yemen, prior to the start of an operation led by the United Nations to unload it to avoid an oil spill in the Red Sea May 30, 2023. REUTERS/Muhammad Yusuf
Built in 1976, the tanker is anchored nearly five nautical miles off Yemen's coast and holds about 1.14 million barrels of light crude oil which has been stuck on board for years unable to be offloaded in wartime Yemen, officials said. Insurance broker Howden was appointed by the U.N. Development Programme via a public tender to identify the insurable risks and arrange insurance cover for the ship-to-ship transfer, which was not a standard operation, the company said in a statement.
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