Malacca Straits Remains on At-Risk List
Friday, February 10, 2006
The Joint War Committee (JWC) of Lloyd's Market Association announced that
the Malacca Straits would remain on its list of areas at risk from terrorism
and other related perils. The announcement came despite a collective
campaign by the three littoral states of Indonesia, Malaysia and Singapore
to have the Malacca Straits removed from the list. The decision of the Joint
War Committee is based on risk assessments of the region, which concluded
that the Straits are a terrorist target. This will mean increased shipping
costs for ships transiting the Straits. When similar war insurance premiums
were applied to ships calling at Yemeni Ports following the terrorist attack
on the French supertanker the MV Limburg in 2002, the impact on the Yemeni
economy was severe. The initial decision in June 2005 to put the Malacca
Straits on the JWC list caused an outcry from the three littoral states.
(Source: www.jamestown.org)
JALESVEVA YAYAMAHE
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