Piracy has surged this year along Southeast Asia’s straits of Malacca and Singapore, one of the world’s busiest trade routes, according to a watch group that tracks maritime security. Incidents along the shipping choke point have risen to 30, from …
An oil tanker was attacked on Sunday in West Africa’s Gulf of Guinea and most of its crew were kidnapped, the latest in a string of incidents highlighting the security risks to shipping in the region. The vessel — an …
Pirates boarded a fully loaded supertanker off the coast of Nigeria, an act that is sure to ring alarm bells for insurers about the risk of collecting oil from Africa’s biggest producer. Nineteen crew were kidnapped and remain missing, a …
Remember those Somali pirates? Earlier this decade, they brazenly hijacked giant oil tankers, demanded ransoms in the millions of dollars, and gave Tom Hanks yet another chance to play the everyman overcoming a life-defining crisis. Now, thanks to a multinational …
Specialist marine insurance intermediary, Seacurus, has developed a petro-piracy endorsement which can be added to existing kidnap & ransom (KR) insurance cover. The coverage was developed in response to the evolving threats to ships, their cargoes and crews when transiting …
UK maritime intelligence provider, Dryad Maritime, has issued a special advisory warning all of its shipping clients on the increased threat of “crew kidnap” in the Gulf of Guinea. Dryad said that since it issued the warning, “two further attacks …
