Pursuit of Pirates on Somali Territory Sought at UN
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By Bill Varner
Dec. 10 (Bloomberg) — Pirates could be chased onto Somali territory under a proposal the U.S. wants the United Nations Security Council to endorse, diplomats said.
A draft resolution to authorize such action has been given to some member governments on the panel, and a vote may be sought as early as next week, [...]
India: Dry bulk cargo shipowners lay up vessels, sell older ships
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Bangalore: Indian shipping firms engaged in carrying dry bulk cargo such as coal or steel have started laying up vessels and even selling older ones as freight rates plunge to record lows amid the global economic downturn and credit crunch. A lay-up happens when a ship is withdrawn from trading operations.
“The market for dry bulk [...]
Tanker outlook: Owners unlikely to walk away from newbuild contracts
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New York: Most of the tankers currently on order will be built and delivered, according to New York broker Poten & Partners. This is in marked contrast to the dry bulk market where analysts believe large numbers of bulk carriers will be seriously delayed or cancelled. However, tanker owners and investors are anxiously awaiting a [...]
Defiant Somali pirates await EU navy force
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Somali pirates were undeterred Saturday as a new European Union naval forces readied to launch an operation aimed at curbing relentless attacks that have rattled world maritime trade. The EU’s anti-piracy drive, dubbed Atalanta, was to formally kick off on Monday, increasing the military presence in the Gulf of Aden, which has in recent months [...]
The latest must-have for commercial shipowners: a piracy insurance policy
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A risk consultancy with close ties to the Lloyd’s insurance market is offering the world’s first insurance policy for shipowners covering potential ransom payouts on crew members who have been kidnapped.
Kidnap and ransom insurance is well-established but has traditionally been offered only in respect of individual executives working in commercially sensitive [...]
EU to launch anti-piracy mission next week
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A European Union flotilla will begin anti-piracy operations off the coast of Somalia next week, the EU’s foreign policy chief said Wednesday. The six warships and three maritime reconnaissance aircraft will replace a NATO naval force that has been patrolling the region and escorting cargo ships carrying relief aid to Somalia since the end of [...]
Somali pirates hijack 1 ship, free another
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Somali pirates seized control of a chemical tanker in the Gulf of Aden on Friday and a NATO helicopter gunship, too late to prevent the hijacking, picked up three security guards who jumped into the sea. Both France and Germany, which have ships in the area as part of an international anti-piracy coalition, sent the [...]
Shoppers won’t notice ship piracy insurance rise
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By Stefano Ambrogi
LONDON, Nov 24 (Reuters) - Insurance costs have risen for merchant ships to transit the piracy-prone Gulf of Aden, but not hugely, and still represent only a fraction of the overall cost of the asset and cargo, marine hull insurers said on Monday.
They said extra transport costs feeding through to consumers [...]
Shipping industry calls for blockade of Somalian coast
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A shipping body and tanker owners from around the world on Monday called for a military blockade along the coast of Somalia to intercept pirate vessels heading out to sea. Peter Swift, managing director of the International Association of Independent Tanker Owners, said stronger naval action - including aerial and aviation support - is necessary [...]
Shipping industry urges EU governments to take up arms against Somali pirates
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Abdul Hassan, chief of the pirate group called the ‘Central Regional Coastguard’, carries a rocket-propelled grenade on to a boat with some of his crew. Photograph: Veronique de Viguerie/Getty Images
European shipowners are urging their governments to wage war on Somali pirates and seize vessels by force, the Guardian has learned, amid growing fear that shippers [...]
