The insurance rates have now been slashed by 50 percent on Aqaba-bound goods, after a surge in the premiums in the wake of September terror attacks on New York and Washington. The sole Jordanian port was categorized among “war zones.”
Mohammad Dalabieh, executive director of the Jordanian Shipping Agents Association was quoted by Jordan Times as saying that “Llyod's, which groups around 85 international insurance firms, decided to lower premiums in the port to .05 percent as of November 22.”
In anticipation of US retaliation for the attacks, global insurance companies last month imposed an additional war risk premiums in areas they declared as “war zone” including the Red Sea Port of Aqaba and the Arabian Gulf, said the Amman-based paper.
Since then, the Kingdom has been demanding that it be excluded from the war zone list.
The hike in premiums has triggered an increase in shipping tariffs by an estimated $7 per ton on all goods heading from or to Aqaba, Jordan's sole maritime outlet – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
