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.
Green Marine
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
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