google-site-verification: googlee9447d3b266da5de.html UKMTO Weekly Piracy Report

UKMTO Weekly Piracy Report

Saturday, September 3, 2016

1. There are no significant events to report this week.

2. In open source news S & P Global Platts report on
additional insurance premiums being paid by tankers
moving through the Gulf of Guinea (c) whilst the slump
plaguing the shipping industry hits the headlines as the
board of South Korea’s largest shipping company
Hanjin Shipping Co file for court receivership (d), and
Braemar Shipping Services ‘warn of a big drop in
demand’ according to the Times newspaper (e). Rahul
Kapoor of Drewry Financial Research Services
discusses the outlook for the shipping industry with
Bloomberg’s Rishaad Salamat (6 minute video) (f).


3. The Economist reports on the half yearly piracy
figures issued by the International Maritime Bureau,
adding that better security on ships and policing on the
high seas can be attributable to the decline in global
piracy (g). At the recent Indian Ocean Conference
2016, the Srl Lankan Prime Minister ‘called for
establishing an Indian Ocean Assembly’ and that an
‘Indian Ocean Order needs to be crafted’ whose


primary responsibilities would include ‘freedom of
navigation in the Indian Ocean and ensuring that
shipping and air routes to East Asia and beyond are
kept open’ (h).


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