Turkey claims to have resolved its tanker insurance impasse, which had seen a slew of ships tied up in its waters at the start of the month.
From December 1, Turkey had demanded ships transiting its waters carry an insurance letter, something the International Group of P&I Clubs baulked at over fears they might be contravening sanctions by issuing the letters. As a result more than 20 tankers were backed up at the entrances to the Bosporus and the Dardanelles as of last Friday, with diplomats from the US and Europe holding urgent talks to come up with a solution. However, the situation showed signs of change over the weekend with some delayed ships transiting the two waterways.
Turkey said yesterday it had now fixed the insurance issue.
“It is pleasing that the talks we have been holding with our counterparts have concluded with the acceptance of our new regulations that will protect the Turkish straits and that maritime trade continues as ordinary,” the Turkish maritime authority said.
According to Reuters, the revised insurance letter indicates that insurers would not bear liability in all circumstances.
