THE Lloyds Joint War Commission has struck off its list of war-prone areas Malalag Bay in Davao Gulf, the country’s biggest lay-up site. The move boosts the Philippines’ chances of attracting more ships for idling.
High insurance premiums in war-prone areas are a turnoff for vessel owners.
“In its advisory no. JWLA011 , the Lloyd’s Joint War Committee has delisted the entire Gulf area from listed areas with perceived enhanced risk,” Maritime Industry Authority administrator Maria Elena Bautista said.
The delisted area in Mindanao covers the ports of Polloc Harbour and General Santos inclusive of the Sulu Archipelago, including Jolo.
Still in the Joint War Committee list are Djibouti, Somalia, Indian Ocean, Ivory Coast, Nigeria, Pakistan, Sri Lanka, Thailand, Indonesia, Malaysia, Georgia in Eastern Europe, Venezuela, Bahrain, Gulf of Aden, Iraq, Israel, Lebanon. Qatar, Saudi Arabia and Yemen.
Located about 30 miles south-southwest of Davao City and on the western side of Davao Gulf, Malalag Bay is Southeast Asia’s most secure and strategic typhoon-free lay-up facility. Its lay-up area is about four miles long and one mile wide.
More than 100 vessels have been laid up at Malalag Bay over the last 25 years.
Worldwide, there are a little more than 500 containerized ships or about 1.31 million TEUs laid-up to date, representing 10.3% of the entire global fleet.
By 2011, it is estimated that about 25% of the world fleet will be laid up mostly at the north side of Bantam Island in Indonesia.
