The Cost of War

Monday, August 27, 2001
There was a predictable outcry against the London-based War Risk Rating Committee for imposing a huge surcharge on sailings to Sri Lanka following the suicide bombing at Bandaranaike Airport last month, never mind that the surcharge was subsequently cut by a factor of ten. It has been estimated that the total insurance bill for the bombing will wipe out thirty years of the world's total hull aviation premium income in one go. If true, this proves just one thing - that aviation rates are too low. It also overlooks one other thing - that all the needless war risk premiums paid over the years in the hull, cargo and aviation markets would comfortably fund a number of Bandaranaike claims. www.lloyds.com

Excerpted from Maritime Advocate Online, sponsored by Barcelona lawyer Ignacio de Ros, a specialist in ship arrest, and is distributed free by email to maritime professionals throughout the world. www.maritimeadvocate.com. Ignacio Ros can be contacted at: office@ignacioderos.com

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

Vietnam's Submarines to Counter China?

Vietnam's new submarines could alter the balance in the South China Sea quite dramatically, say maritime security analysts.   Vietnam and China have long contested

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

Finance

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

 
 
Maritime Contracts Maritime Security Navigation Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1170 sec (9 req/sec)