PAKISTAN PORTS HIT BY INCREASED LLOYD’S WAR RISK PREMIUM

The War Risk Committee of Lloyd’s has upped its war-risk premiums (WRP) for ships visiting Pakistani ports to 0.75%, according to industry sources quoted by Reuters news agency. The additional levy reflects the current tension between Pakistan and its neighbour India over the contested border region of Kashmir. Fears over a conventional or nuclear war have spiralled since May 14, when more than 30 people were killed in an attack on an army camp in Indian Kashmir . More than 1m soldiers, backed by artillery, tanks and planes, are currently deployed along the border, where troops for both sides have been building since an attack on India’s parliament in December last year. The Indian parliament has blamed both of the recent attacks on Pakistan-backed militants — a claim denied by Pakistan’s authorities. So far no additional WRP has been imposed on ships visited Indian ports, though India-based shipping firms have been worst-hit by the increased Pakistan tariff.