JWC reduces Indian Ocean HRA

8. January 2016

The context of the latest BMP4 adjustment the Joint War Committee had reduces of the size of the Hull War, Piracy, Terrorism and Related Perils Listed Area for the Indian Ocean with JWLA 022 in december last year. As a result, the Red Sea up from Latitude 15° North is not longer to be recognized as a piracy related area, as well as the waters up from Longitude 65° East. 

 

Besides the effects on insurance premiums for the shipping industry, the ongoing political changes within the major hubs of Egypt as well as Sri Lanka might cause major deficiencies in the availability of PMSC services for the shipping industry. As the so called PCASP „vanilla route“ from Far East to Europe and vice versa was meant to be a transit between Galle and Suez, this hubs will likely drop in their logistical importance due to Egypts declination of PMSC services and Sri Lanka Navy’s  takeover of the company AGMS. 

 

Please click the links down below for further information on the issue.

 

JWLA 022 published 10th December 2015

 

AGMS Article in The Sunday Leader

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