Piracy off the coast of Somalia is costing the international shipping industry at least $100 million a year, a new report states. Aside from payments in ransom — estimated at about $110 million over the past two years — there have also been increased transportation and insurance costs, as well as costs related to protecting ships.
News
about 16 years ago
Piracy costs shipping firms over $100m annually, says report
Piracy off the coast of Somalia is costing the international shipping industry at least $100 million a year, a new report states. Aside from payments in ransom — estimated at about $110 million over the past two years — there have also been increased transportation and insurance costs, as well as co
Reach the Offshore Energy industry in one go!
Offshore Energy is read by thousands of professionals every day.
Increase your visibility with banners, tell your story with a branded article, and showcase your expertise with a full-page company profile in our business directory.
Follow Offshore Energy on: