An advisory committee at the Lloyds group of underwriters has added the Malacca Strait in South-East Asia to its list of high-risk areas, causing consternation among Asian shipowners.
Acting on a report from Aegis Defence Services, Lloyds's Joint War Committee published the list of 21 areas on 20 June, including the 960-kilometre waterway on the list for the first time. The amendment enables insurers to demand additional premiums for the cover of ships using the channel, which carries as much as...
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