Cargo market braced for $40mn loss from South Africa arson attack
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Cargo market braced for $40mn loss from South Africa arson attack

Samuel Casey, 
Luke Harrison
25 August 2021
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A general view of the burning warehouse after violence erupted following the jailing of former South African President Jacob Zuma, in Durban, South Africa, July 14, 2021. REUTERS/Rogan Ward

The London cargo market is facing losses of up to $40mn stemming from last month’s riots in South Africa, after arsonists razed a chemicals warehouse owned by Indian manufacturer UPL, Insurance Insider understands.

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