The hijacking of a fuel tanker off Somalia’s coast shows the threat pirates still pose to one of the world’s busiest shipping lanes, a risk that may also hamper the Horn of African country’s efforts to explore for offshore oil …
Pirates off the coast of Somalia, who hijacked an oil tanker with eight Sri Lankan crew on board, are demanding a ransom for the release of the vessel, the EU Naval Force said. The pirates seized the Comoros-flagged Aris 13 …
Pirates have hijacked an oil tanker with eight Sri Lankan crew onboard, a Somali official said on Tuesday, the first time they have successfully taken a commercial ship since 2012. The Aris 13 sent a distress call on Monday, turned …
The hijacked oil tanker Orkim Harmony has been released by pirates, who fled in the ship’s rescue boat, Malaysian navy and maritime officials said on Friday. The Orkim Harmony, hijacked on June 11 off the Malaysian coast by pirates reportedly …
A Malaysian naval vessel has made contact with the pirates onboard hijacked tanker Orkim Harmony and is trying to persuade them to surrender, a maritime official said on Thursday. The tanker as of noon (0400 GMT) was in Vietnamese waters …
When it comes to world trade, a 17-day shortcut trumps terror, piracy and now bombs. That’s the time a supertanker saves by using the Bab el-Mandeb waterway that skirts Yemen at the southern tip of the Arabian Peninsula, rather than …
Shipping losses declined to 75 during 2014, a 32 percent drop from the previous year and well below the 10-year loss average of 127, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015. …
Centuries after piracy was recognized as the first international crime against humanity, its spread around the world has prompted the U.N. Security Council’s first debate Monday on piracy’s rise as a threat to world peace and security. In the past, …
A dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers. International navies have cracked down on pirates, …
Tim Holt, Head of Intelligence at Special Contingency Risks (SCR), part of the Willis Group, has warned that the piracy threat in Somalia is unlikely to abate for the following reasons: • “Piracy is the second largest generator of income …
