Reduction in Gulf War Risk Cargo Insurance Rates
The War Risk Rating Committee in London on 9 August announced immediatereduction in war risk insurance premiums for ports in the Gulf. Rates for crudeoil shipments, products and gas cargoes to and from Kuwait and north SaudiArabian ports in an area north of Latitude 27 degs. 30 mins. north will be cutto 0.25% from 0.375%. Those for all other cargoes in this area will decline to0.2% from 0.3%. The same...