piracy
Somali pirates : steep rise in attacks
Government is being asked to reduce escalating threat from Somali pirates. These are becoming extremely more audacious in attacking ships and are choking supply...
Saudi insurer to pay pirates $20mln ransom
A Saudi insurance company is to pay Somali pirates a 20-million-dollar ransom to free a hijacked ship and its 14-member crew held hostage for...
Somalian pirates paid $4 million in ransom for Chinese coal ship
A Chinese cargo ship with 25 crew members aboard was heading for a safe port after being released by pirates off the coast of...
Munich RE warns about rise of piracy and advise insurance product
Back in 2007, the ransoms demanded by pirates were generally still under the US$ 1 million mark. The sums which were ultimately paid amounted...
Kidnap insurance premiums could escalate within weeks
The lull in Gulf of Aden pirate attacks during monsoon season means kidnap and ransom insurance rates for such risks have fallen by around...
