Closer Look

The Lloyd
quote s Underwriters Association secured their services as a precursor to remove the remaining war risk premiums on ships calling at the Colombo port.

rnrnThe audit is expected to take five days and the report is due a week later. Lloyds is expected to make their decision thereafter, shipping sources said.

rnrnThe consultants
quote today met with top officials from the defence and ports ministry to discuss security arrangements.

rnrnThe ongoing ceasefire between the government and the LTTE is expected to make a strong case to remove the war risk tag from the Colombo port.

rnrnLloyds underwriters put a lquote held cover
quote on the Colombo port last August, by slapping hefty additional surcharges on ship
quote s hull insurance.

rnrnFollowing a US$ 50 mn government guarantee, the underwriters reduced the surcharge from 1 percent to 0.075 percent.

rnrnThe surcharge was further reduced to 0.050 percent following independent audits conducted by two expert groups hired by the government a