DANGERS TO SHIPPING.

Taranaki Daily News, 12 February 1916, Page 7

DANGERS TO SHIPPING.

INSURANCE RATES RAISED. COVER AGAINST WAR RISKS. A general increase lias been made by the British marine underwriters in the rates for extra insurance) against war risks on ships, cargo and freights, as the result of reports that a German raider and possibly other enemy ships are at liberty in the Atlantic Ocean. The new tariff is now in operation. The rate which is of principal concern to New Zealand is that for insurance 'on vessels trading through the Atlantic Ocean to the United Kingdom. That rate has been advanced from 114 per cent., at which figure it has stood for some time, to 3 per cent. This is also the rate to French and Mediterranean ports, via Cape Horn, and on shipping from the United Kingdom outwards, via Cape Horn or the Cape of Good Hope. For the longer voyage via Cape Horn and the United Kingdom to the Mediterranean the risk is assessed at 4 per cent.

There is no fresh quotation for the Mediterranean route to the United Kingdom, no that the rate remains at 5 per cent, to which figure it was advanced 011 January 5. The rate to Suez and Port Said is ] >/ s per cent. For voyages through, via Cape Horn, to the United States and Canada, the rate is 1 per cent. For vessels trading in the Pacific the rate is still only 5s per cent. On sailing vessels trading between New Zealand and the United States the rate ie 3 per cent.

The tariff for voyages to Sweden. Holland, and Norway has been increased is -proportion to the new scale.