The Fremantle Highway fire in the North Sea is set to chalk up another major loss for hull underwriters and put pressure on rates, particularly in the car carrier sector.

The hull of the Shoei Kisen Kaisha-owned, 6,210-ceu Fremantle Highway (built 2013) is valued at about $78m, but the long-running salvage and firefighting operation will also push up the final claims bill significantly for the ship’s hull underwriters.