CARRIERS WARN OF INDIA/PAKISTAN WAR RISK SURCHARGE

CARRIERS WARN OF INDIA/PAKISTAN WAR RISK SURCHARGE    The India Pakistan Bangladesh Ceylon Conferences, a group of shipping lines in the Europe/Indian subcontinent trade, warned on Friday of the possibility of extra risk insurance charges because of the risk of war between India and Pakistan.
   “In the light of escalating recent tension between India and Pakistan, member lines (of the conference) are being advised by their insurance underwriters that additional war risk insurance costs may be reviewed for vessels calling or transiting certain specified ports/areas in the region,” the carrier group said.
   The conference, which comprises most of the carriers in the Europe/Indian subcontinent trade, said that precise details of terms and extra costs involved are not currently available. The conference said that its member carriers “would have no option but to on pass these war risk insurance and other related costs to customers” if the insurers of the carriers raise their war risk insurance premiums.
   The India Pakistan Bangladesh Ceylon Conferences carriers include Pakistan National Shipping Corp., CMA CGM, P&O Nedlloyd, Evergreen Marine Corp., Shipping Corporation of India, Hapag-Lloyd, “K” Line, Yang Ming, Maersk Sealand, Zim Israel Navigation Co. and other shipping lines.