Terror on high seas, now a major worry for ship owners
Plummeting freight rates and shrinking cargo as a result of the global financial meltdown are not the only issues presently gnawing at shipping companies. The recent flare-up of terror on high seas, off the coast of Somalia, has become a sharper concern for ship owners.
Even after the Indian seafarers aboard Stolt Valor, which was hijacked [...]
Somali pirates threaten use of Suez Canal: analysis
There is growing concern that the free passage of the Suez Canal, one of the great breakthroughs in international trade, is under threat from the spread of piracy off the coast of Somalia.
The flow of millions of pounds, derived from ransom payments, into groups linked to fundamentalist Islamic movements in Somalia has triggered warnings that [...]
Indian on hijacked ship calls for help
MUMBAI: Even as there is no news of a breakthrough in negotiations with Somali hijackers of Japanese vessel MT Stolt Valor more than a week after the incident, the captain’s wife in Dehradun said she received a call from one of the crew members who said the crew was being ill-treated and kept under poor [...]
