Piracy is costing the global shipping trade more than $9 billion a year, according to Indian ship owners, who are demanding that the U.N. set up a maritime force to halt pirates operating off the Somalian coast in the Indian …
Aon Risk Solutions, the risk management business of Aon Corp., has issued its first in depth report analyzing the threat posed by pirates. It points out that with the end of the monsoon season pirate activity usually increases. It also …
Germany plans to lobby other European Union countries to allow the deployment of private armed guards on their merchant ships in high-risk areas as a piracy crisis escalates, ministry officials said. But analysts said the initiative was likely to face …
A report compiled by David Rider of Neptune Maritime Security points out that, despite the “best efforts of the world’s navies and EU NAVFOR in particular, pirate attacks continue in the area off the Horn of Africa- Somalia, the Indian …
London’s marine insurance market has added Benin to a list of areas deemed high risk due to an escalation of pirate attacks in the area, a senior official said. Pirates attacked two Panamanian-flagged tankers carrying oil off the coast of …
Gray Page, a specialist maritime intelligence, investigation and crisis management company, has advised that the IMO’s Maritime Safety Committee’s (MSC) recently approved interim guidance on the employment of privately contracted armed security personnel (PCASP) to combat piracy, “underlines the requirement …
London-based Steamship Mutual, a leading P&I Club, announced the imminent launch of its latest Loss Prevention DVD entitled “PIRACY – The Menace at Sea”. The Club described the current piracy situation as a “wholly unacceptable threat to merchant shipping and …
A fake Apple store in China, made famous by a blog that said even the staff working there didn’t realize it was a bogus outlet, is probably the most audacious example to date of the risks Western companies face in …
The pirates were nervous. A rookie author – a white man from Canada – had unexpectedly arrived in their cliff-top Somali village to ask about the captured ship anchored offshore. Locals fearing a showdown quietly melted away into a small …
Dual Dutch-Norwegian listed ocean transport company Dockwise has warned the Netherlands it will sail its vessels under a different flag unless it is allowed private guards to fend off pirates. The company said in a statement on Tuesday it was …
