Shipping companies will also feel the heat from the US terrorist attacks through higher premiums. Reuters quoted unconfirmed reports from Europe that say costs to cover acts of war will rise 10 times the present level to .05% of the value of a ship.  The supplement to sail through the Suez Canal will increase by four times to .1% of the value of the ship.

Insurers have already increased the insurance rates for ships using the Red Sea, the Persian Gulf and parts of the Indian Ocean.