VOL. XXXIII

NO. 49

10-SEPTEMBER-1990

Gulf Shipping

ILU Reduces Cargo Insurance Rates for Gulf and Red Sea

The Institute of London Underwriters (ILU) on 5 September reduced the cargoinsurance rates for the southern Gulf and the Red Sea. The cut, from 0.05% to0.0375%, followed a meeting of the London market's cargo war risk committee,which is administered by the ILU. A spokesman for the ILU told Lloyd's List of 6September that "the committee felt that there was stalemate in the south ofthe Gulf and...