Indian insurers set to agree $50m of cover for Iranian oil ships
Indian insurance companies look likely to agree to $50m cover per voyage with Iranian crude oil on risk for collision and spills.
The Hindu Business Line quotes sources in government and insurance as saying: "Talks are in positive directions and could be concluded soon and help resolve the deadlock."
Issues still believed to be outstanding in the talks between ship owners through the Indian National Ship Owners Association and insurance companies led by General Insurance Corporation include insurers' demands for an additional $20 000 'war risk premium' per voyage.
The Indian government is currently granting permission for ships carrying Iranian crude oil on a case-by-case basis.
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