ShippingWatch

High-risk zone off Somalia has been reduced

London-based Joint War Committee, which determines where in the world carriers are operating in high-risk zones due to factors such as wars and conflicts, downsizes the risk zone off the coast of Somalia. Shipowners expect insurance premiums to follow suit.

The Joint War Committee, the London-based body which determines when the world's carriers enter high-risk zones, has decided to reduce the area off the coast of Somalia that has for years been ranked as one of the most dangerous sailing regions in the world, informs the Danish Shipowners' Association in a statement in which the shipowners add that the next step must be for insurance premiums to be lowered as the risk factor in the Indian Ocean has now been reduced.

The significant decline in the number of pirate attacks off the Horn of Africa, which until a few years ago represented a major problem for the shipping industry, has spurred the Joint War Committee to downsize the risk zone in its so-called 'Listed Area.' The committee's estimates are used by, among others, marine insurers when calculating premiums for sailing in specific waters. Shipowners also draw on the spread of the areas featured on the list when, for instance, determining whether to employ armed guards on board vessels.

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