Diplomatic Maneuvering

(L to R): Nasir Uddhin Chowdhury - MD, Lanka Bangla Securities, Ajith Fernando - Group CEO, CAL, Naveed Vakil – COO, AKD Securities

Lloyds of London officially removed the surcharge last month following intense diplomatic lobbying and a consultation with independent security experts who carried out a security audit on Colombo Port.

rnrnHowever, some shipping lines continue to charge a WRS on cargo bound to American ports, said President Ceylon Shippers
quote Council, Ravi Ratnapala.

rnrnldblquote This is absurd since they apply the surcharge on cargo bound to USA, while the cargo bound to European ports that are on the same vessel are exempt
dblquote , Ratnapala told Lanka Business Online.

rnrnldblquote This has become a matter of national image
dblquote , he said pointing out the damage created by the surcharge on Sri Lanka
quote s international trade.

rnrnThe London Lloyds War Risk Rating Committee originally imposed WRS in July last year following the terrorist attack on Katunayake airport.

rnrnShipping community even then maintained that it was an ill-conceived move since the terrorist attack was on a separate entity not c