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, [...]
Shipping firms face unhappy new year
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As 2008 draws to a sorry close, the boom momentum that the shipping industry was enjoying at the start of the year is now a distant memory with demand falling in direct proportion to the economic slowdown.
Charter rates continue to plummet with the scenario of idle tonnage becoming a certainty for the near future, especially [...]
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 [...]
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 [...]
Shipping slowdown expected to cut deployment of seafarers
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“For seafarers, they [IMO] can see a little bit [of a downturn] in the first quarter, but they would recover in the third quarter,” Labor Secretary Marianito D. Roque told reporters at the sidelines of the department’s 75th year anniversary exhibit opening, without giving estimates. United Filipino Seafarers president Nelson P. Ramirez said in a [...]
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 [...]
Suez traffic not affected
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Egypt denied that international shippers were avoiding the country’s Suez Canal, the waterway that carried a tenth of the global seaborne trade in 2007, after an escalation in piracy off east Africa. ‘We have not been notified by any shipping company that they are re-routing away from the Suez Canal because of the Somali piracy,’ [...]
Legal Hurdles in West Slow Pursuit of Pirates
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Somali pirates firing automatic weapons and rocket-propelled grenades hijacked yet another ship in the Gulf of Aden on Friday, this time seizing a chemical tanker. A German military helicopter from a nearby warship arrived in time to pull three security guards out of the water, but not soon enough to prevent the hijacking of the [...]
Steaming under the constellation of Piracy
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Piracy has occurred through the ages together with the presence of the first Ships. People along the coasts of the Mediterranean Sea have been trying to gain control of the trade routes and attacking the competition that was en route by sea. Thus it was common practice for the people engaged in commerce to be [...]
Indian Maritime University ties up with global schools, IIMs for courses
Our Bureau
Chennai, Nov. 25 The newly formed Indian Maritime University (IMU) has tied up with five international institutions and with the IIMs in Ahmedabad and Bangalore to offer various maritime-related courses.
IMU has tied up with Dalian Maritime University (for MBA in port management), with Shanghai Maritime University and Antwerp University (for MBA in international [...]
