Article

2005-08-03 Southeast Asia

Littoral States' Ministers Want Lloyds' War Risk Assessment On Straits Corrected

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Posted by Pappy 2005-08-03 00:47|| || Front Page|| [4 views since 2007-05-07] Top

#1 I get the feeling that it owuld be better for everyone involved if they attributed the risk to sea serpent or yeti attacks.

Posted by Phil Fraering 2005-08-03 01:19|| http://newsfromthefridge.typepad.com]">[http://newsfromthefridge.typepad.com] 2005-08-03 01:19|| Front Page Top

#2 "...reaffirmed the sovereign rights of the littoral states over the two straits."

Wow. Meetings and statements! I'm sure the hard-eyed adjusters at Lloyds will be really impressed at how they're dealing with the problem...

Posted by PBMcL 2005-08-03 01:31|| 2005-08-03 01:31|| Front Page Top

#3 I think the "ministers" don't have the concept down, talking about repsonsibility and sovreignty are one thing, practcing them are another. Watch the rates to underwrite climb until you start hanging pirates and offer protection instead of lip service.

Posted by Sock Puppet 0â Doom 2005-08-03 02:07|| 2005-08-03 02:07|| Front Page Top

#4 Insurance is a numbers game. Perhaps Lloyd's has noticed a positive correlation between areas swarming with pirates and terrorists and actual acts of piracy and terrorism.

This whimpering is rather amusing coming, as it does, on the heels of the recent declarations by Malaysia and Indonesia that they didn't want their sovereignty compromised by anyone's military providing well armed escorts for merchant shipping.

Posted by SteveS 2005-08-03 05:54|| 2005-08-03 05:54|| Front Page Top

#5 Anyone else expecting Lloyds to "review its risk assessment" and raise the estimate of risk?

Posted by Robert Crawford">Robert Crawford 2005-08-03 07:41|| http://www.kloognome.com/]">[http://www.kloognome.com/] 2005-08-03 07:41|| Front Page Top

#6 This is likely why Indonesia and Malaysia started slightly changing their usual song-and-dance a month or so back. Singapore is a major trade center and Indonesia and Malaysia are desperate to become ones; any increase in the cost or reduction in the amount of shipping is damaging.

When you have them by the wallet, their hearts and minds will follow.

Posted by Pappy 2005-08-03 10:49|| 2005-08-03 10:49|| Front Page Top

#7 :>

Indeedy. Like I said, seaborne commerce can be closed by words, POTUS, CEO Lloyds, The First Lord of the A... it's a great gig, don't even have to forces in place.

Posted by Shipman 2005-08-03 15:21|| 2005-08-03 15:21|| Front Page Top

#8 i think these radical feminists should drop this nonsense about littoral politics -- oops, never mind.

Posted by Liberalhawk 2005-08-03 16:56|| 2005-08-03 16:56|| Front Page Top

#9 Heh. Go wash yer mind out with soap, lh.

Posted by Pappy 2005-08-03 19:21|| 2005-08-03 19:21|| Front Page Top

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