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CBSI and the world. I'm John Dutche with Gregory Coppley, Defense and Foreign Affairs. He is in Perth, Western Australia.

We're looking at the Red Sea. It is a shooting war, missiles flying, defensive

missiles as well as drones, led by the Huthies who are supplied by Iran. However, it is in economic war.

And I read now from Reuters within these last hours out of London.

Insurance industry sources said that war risk premiums have

has risen to around 1% of the value of a ship up from 0.7 last week with various

discounts applied by underwriters. They added that rates were expected to move higher.

The decision to raise the rates has obliged many companies to reroute or to continue to reroute. There's a long list at Reuters of some

taking risks, some not through the Red Sea. The advice by warships in the Red Sea is

to avoid certain parts of it.

It's a large body of water.

However, in these last hours, we also have news that the U.S. and it's working with the UK has moved effectively to seize a batch of Iran missiles.

This is London reporting.

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