Piracy costs world shipping industry $9 bln a year..

[henric]

The Associated Press

NEW DELHI - Indian ship owners say piracy is costing the global shipping trade more than $9 billion a year. They are calling for a maritime force to halt pirates operating off the Somalian coast in the Indian Ocean.
Anil Devli of the Indian National Shipowners Organization says increased insurance costs, longer routes, armed guards posted on board ships and ransoms paid to get hijacked vessels and crew released are pushing up costs for the global shipping industry.
Devli said Monday that the association has written to the Indian government to ask for a maritime force under U.N. command, much like the U.N. peacekeeping force, to ensure the safety and security of sea lanes in the Arabian Sea and Indian Ocean.

[Pollypurabred]

I "ASSUME" it was okay before BUT now we are talking about dollars and finally sense, we may finally get a resolution. Yep, I believe that to be true also...:rolleyes:


The Associated Press
NEW DELHI -
Devli said Monday that the association has written to the Indian government to ask for a maritime force under U.N. command, much like the U.N. peacekeeping force, to ensure the safety and security of sea lanes in the Arabian Sea and Indian Ocean.

[stman]

So basically, they want to pass all the costs on to someone else. That isn't to say that I don't agree that piracy is a problem that needs to be eradicated. Like all criminal activity, it adds up to more costs for everyone. Every company involved adds that to their cost of doing business and passes it on. But really simply patrolling that area is just a band aid until the lawlessness in Somalia is resolved. That's the true problem. JMO

[slugworth]

sub patrols and use the pirates for target practice.