The SMF said it hoped its report - drawn up by the London-based International Institute of Strategic Studies - would prompt a review of the Strait's status when the JWC next meets early next year. "It is hoped that, following its review, the JWC will be persuaded that the security situation has very much improved and will remove the Malacca Strait from the list," the SMF said.
By Jake Lloyd-Smith
Singapore's shipping industry is stepping up a campaign to persuade London-based marine underwriters to drop their designation of the Malacca Strait as a "war risk" area.
The classification, announced in June, has meant higher premiums for some of the 50,000 vessels that use Asia's most important waterway each year.
The Singapore Maritime Foundation (SMF) said it had commissioned a specialist security study of the strategic sea lane and submitted it to the Joint War Committee (JWC) this month.
The body, part of the Lloyd's Market Association, determines which areas may be classed as "war risk". Its analysis helps underwriters set premiums for vessels and their cargoes.
The JWC's decision to add the Malacca Strait to the list - principally due the perceived threat from terrorists - was seen by many in the industry as overblown and ill-informed.
The SMF said it hoped its report - drawn up by the London-based International Institute of Strategic Studies - would prompt a review of the Strait's status when the JWC next meets early next year. "It is hoped that, following its review, the JWC will be persuaded that the security situation has very much improved and will remove the Malacca Strait from the list," the SMF said.
Bordered by Indonesia, Malaysia and Singapore, the Malacca Strait links the Indian and Pacific oceans, and is a key conduit for global trade.
The waterway carries a quarter of the world's commerce, including half of global oil shipments.
Like others in the industry, the SMF appears to have been angered by the JWC's reliance on a single risk assessment to back its new classification of the Malacca Strait. This assessment was drawn up by Aegis Defence Services, a UK-based consultancy headed by Lieutenant-Colonel Tim Spicer, a well-known figure in the security industry.
The SMF said: "It was felt that the JWC had not consulted with the industry or with the littoral states and had acted on just the recommendations of a single party."
The SMF added that the chairman of the JWC, Rupert Atkin, had agreed in September to consider alternative reports when next assessing the Malacca Strait's risk tag.
The public row over how dangerous the Malacca Strait actually is represents a dilemma for the Singapore government.
Its ministers have issued repeated and dire warnings about the potential for terror strikes against ships and ports.
But the administration is also keen to support its shipping and port companies, which form a vital part of the city-state's trade-driven economy.
