Archives

By Channa Kasturisinghe

Shippers in the country are yet to obtain the real benefit of the removal of the war risk tag imposed on Colombo port, shipping sources confirmed yesterday.

A senior official of a leading shipping agency in Sri Lanka said that they have not yet received any official response from the principals, although more than two weeks have passed since the London based War Risk Rating Committee (WRRC) officially announced the removal of the held cover situation from the Colombo Port.

"The ships calling at Colombo Port still have to pay war risk premiums to the underwriters despite the latest decision by the WRRC after careful inspection of the security situation of the Colombo Port," they said.

Shipping Agents here have had several discussions so far on this matter. The local officials of India Pakistan Bangladesh Sri Lanka (IPBS) Conference recently met and discussed the situation. However, there is nothing much we can do except wait for our principals to inform us," the official said.

Meanwhile the President of the Shippers Council Ravi Ratnapala said that all the stakeholders are expected to meet next week to decide on a joint action to remedy the situation.

The Sri Lanka Shippers' Council said that certain shipping lines and insurance underwriters continue to charge the War Risk Surcharge (WRS) on import and export cargo despite the announcement made by the Sri Lankan Government, the Joint War Risk Committee and Lloyds Underwriters Association on the removal of War Risk Surcharge from March 8, 2002.

The Council advised all shippers' to resist the additional premium forced on them by all means. The time has come for all shippers, agents of shipping lines and insurance underwriters to work together to show the world our solidarity.

"We regret to note the continuous attempts by these shipping lines and insurance underwriters to charge WRS on import and export cargo," the Shippers' Council said last week.

Lalith De Silva, Additional Director General (Public Finance) Ministry of Finance has said that the Government has received a communique, confirming that the US$ 50 million guarantee provided by the Sri Lanka government to the underwriters in August 2001 would be returned within the next few days. The War Risk Rating Committee in the UK through a press release dated February 28, 2002 has also confirmed this position, he said. 

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager