Yemen seeks reduced insurance fees on arriving vessels

2022-08-07 | Since 2 Month

Aden (Debriefer) Yemeni and UN officials discussed at Thursday meeting a mechanism to reduce insurance charges on commercial ships arriving at the war-torn country's ports.
The meeting discussed how to apply a decision made by the government on a potential deposit at the Landon-based protection club in order to decrease the 16-folded insurance fees imposed by global companies on vessels arriving at Yemeni ports classified as highly risky, Saba said.
One of the envisioned measures needed to start applying the decision is to form a technical committee and to hold continual meetings to insure the decision would be properly implemented, the Aden-based news agency added.
The Yemeni government hopes this move will help reduce insurance costs of shipping and, thus, decrease prices of goods and services.
The meeting was attended by Yemen's ministers of transportation, finance and planning, Central Bank governor and director of the UNDP resident representative's office.

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