IRAQ-IRAN

Iraq Sinks Iran-bound Product Tanker

Attacks on shipping in the Gulf by both Iraq and Iran intensified last week. For the first time during the Gulf war, a tanker actually sank, with a full cargo of 60,000 tons of jet kerosene aboard, after being hit by an Iraqi Exocet missile. The resulting claims for $17mn are the largest so far registered in the Gulf war, and the UK Mutual War Risk Association and the Hellenic War Mutual Risk Association promptly announced that they were...