Fire at VTTI Fujairah Crude Oil Storage Terminal, UAE
A fire at the VTTI petroleum storage terminal in Fujairah, UAE burned for approximately 8 hours before being brought under control, confined to a single 50,000-barrel crude oil storage tank. Preliminary direct damage is estimated at $3 million, with business interruption losses being assessed as the tank will be offline for 3-4 months. The terminal carries property and BI coverage through London market syndicates, making this a directly relevant claims event.
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Impact verdict
Medium impact. MEDIUM: Direct property damage of ~$3M is below high-impact threshold, but the confirmed London market syndicate placement and a 3-4 month BI period make this commercially actionable for Energy and Property underwriters. Total insured loss (property + BI) may materially exceed direct damage estimate. Claims notification and reserve-setting will be required across relevant syndicates.
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Start two-week trialGeographic Zone Matches
2 active matches
- United Arab Emirates (12nm coastal buffer)Rule-basedConfidence 100%
- Persian/Arabian Gulf, Gulf of Oman, Indian Ocean, Gulf of Aden and Southern Red SeaRule-basedConfidence 100%
Geographic zone matches are RiskEvents spatial/analytical indicators, not coverage determinations or Lloyd's official classifications.
Affected countries
Lloyd's classifications
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