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Trade Losses in Shipping: Causes & Impact by Abin S Arakkal is a document available to read on EtoBox.

Piracy and sea perils pose major risks to international shipping companies. Somali pirates in particular have attacked over 100 ships in the Gulf of Aden in 2008 alone. This affects oil and goods trade as ships may take longer, less direct routes to avoid danger, increasing costs. Insurance premiums have risen dramatically to account for the risk of piracy attacks or sea incidents. The impacts extend beyond companies to wider trade and economic costs.

Author

Abin S Arakkal

Language

EN