Shipowners urge Malacca risk review<\/p>\n
SINGAPORE: An urgent review of the Malacca Strait risk
\nassessment by London marine underwriters is needed, the
\nFederation of ASEAN Shipowners' Associations (Fasa) said in a
\nreport on Tuesday.<\/p>\n
\"There is no valid reason for war risk insurers to take hasty
\naction in seeking to charge additional premiums before this
\nreview is completed,\" The Business Times quoted Fasa chairman
\nS.S. Teo as saying.<\/p>\n
Wider consideration is also needed via a thorough review, said
\nTeo, also president of the Singapore Shipping Association.<\/p>\n
Fasa welcomed the start of dialogue after a briefing last week
\nby the Joint War Committee of London's marine hull underwriters
\ngiven for industry and government officials.<\/p>\n
It said it remained optimistic the war risk rating for the
\nStrait, one of the world's busiest, would soon be removed.<\/p>\n
The strategic sea lane was included in June on a list of 21
\nhigh-risk areas around the world, triggering widespread
\nopposition. Also included were parts of southern Thailand and
\nportions of the southern Philippines.<\/p>\n
The classification of the waterway as a war and terrorism risk
\nallows for extra insurance premiums to be levied on ships. It was
\nbased on an assessment by Aegis Defense Services. -- DPA<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/shipowners-urge-malacca-risk-review-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}