2023-04-26 17:20:34
An advisory note said that the London marine insurance market included Sudan among the areas it considered high risk this week as fighting raged there.
The inclusion of Sudan in the list of high-risk countries means that any ships sailing in the country will need to pay an additional war risk insurance premium and also obtain approval from their insurance company.
The advisory notes issued by the Joint War Committee, which includes union members from the Lloyds Market Association and representatives from the London underwriters’ market, are closely watched and influence insurers’ reviews of premiums.
Fighting in Sudan since April 15 has killed hundreds, caused a humanitarian crisis as thousands fled their homes and prompted foreign countries to evacuate their citizens, fearing an all-out civil war.
Most of the country’s international trade takes place in Port Sudan.
“There is an increased risk of military activity around the port, and there is at least a real risk of stray munitions falling during the operation in Port Sudan,” Skold said.
Container companies AB Moller-Maersk and Hapag-Lloyd Container said this week that they had stopped taking new bookings for Sudan for the time being.
Maersk said the ongoing clashes “have a significant impact on the country’s logistical operations”.
“The current political turmoil in Sudan poses challenges to supply chains,” said Hapag-Lloyd.
1682533665
#Marine #insurance #companies #London #include #Sudan #list #highrisk #countries