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Sri Lanka removed from marine Joint Cargo Watch List

Sri Lanka removed from marine Joint Cargo Watch List

Colombo: Sri Lanka has been removed from the Lloyd's Joint Cargo Watch (JCW) List for marine war and marine strikes, one year after the successful conclusion of the decades-long terrorist insurgency in the Indian Ocean island.? ?

The Sri Lankan Government welcomed the development, which sees Sri Lanka's removal from the Marine War and Marine Strikes JCW List of Lloyd's Market Association's Joint Cargo Committee, as yet another indication of a post-war return to normality for the country. ? ?

A Sri Lankan Government spokesman said: "Sri Lanka's post-war economic revival will be greatly boosted by the increased business confidence, reduction of the cost of imports, removal of insurance surcharge, and motivation for more shipping lines to call at Sri Lanka Ports, which the de-listing of Sri Lanka from war and marine risks will bring."? ?

The removal of Sri Lanka from its previous high level of 2.6 on marine war risk and marine strikes risk comes in the wake of a Lloyd's Market Association Joint Cargo Committee Review Meeting held in London at the beginning of July.  [20/07/10]?