Monday, March 1, 2010
Asia’s booming demand for coal could increase Somali pirate activity
Booming Asian demand for South African coal will put more ships at risk from Somali pirates operating in the Indian Ocean and raise insurance and freight costs already hiked due to seaborne attacks.
Emboldened by rising ransom payments, Somali pirates have stepped up attacks in recent months, making tens of millions of dollars by hijacking ships in the Indian Ocean and the Gulf of Aden.
While pirates have hijacked oil tankers, passenger ships and yachts, they have started to target slow moving coal bulk carriers, which are easier to overcome than a large tanker.
A Somali pirate who gave his name only as Hassan told Reuters that armed gangs can operate far out to sea and were able to dodge naval warships deployed to combat their activities.
-Reuters
For the full story: af.reuters.com
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