Safe Harbour

May 25, 2009 (LBO) – Sri Lanka is to lobby Lloyd’s of London to remove a war risk tag on the country which kept insurance premiums high, following defeat of Tamil Tigers by the military last week, a media report said. The Island newspaper said Sri Lanka is classified as a ‘region of war’ by Lloyd’s, forcing ships calling at the island to pay an additional war risk premium.

Sri Lanka will soon approach Lloyd’s of London, a British insurance market, with a request to review its classification of the country as a ‘region with a war’ with ships calling on Colombo having to pay a war risk premium.

“We have had some preliminary discussions with Lloyd’s but we hope to make an official representation soon,” Sri Lanka Ports Authority chairman Priyath Bandu Wickrama was quoted as saying by the newspaper.

“I will be calling on Lloyd’s at London soon and I will invite them to Sri Lanka.

“We can expect the negotiations to be a success and will expect ship agents and ship owners in Sri Lanka to help us by lobbying with Lloyd’s.”

Tamil Tiger guerillas have attempted to hit the port several times.

Though international shipping is slowing and the port has also seen a slowdown in transshipment