Tim Holt, Head of Intelligence at Special Contingency Risks (SCR), part of the Willis Group, gives his reasons, suggest remedies. • “Piracy is the second largest generator of income in Somalia, yielding an estimated $200 million annually. • “As pirate financiers invest more and more in the success of their operations, lucrative opportunities for…
The Malaysian Maritime Enforcement Agency (MMEA) recently foiled an attempt by six pirates from syphoning off and selling bunker fuel from a hijacked vessel in local waters. MMEA officials noticed uncommon ship-to-ship activity between MT Scorpio and MT Sea Jade. As a nearby MMEA patrol boat started to move towards the two vessels, six…
Rear Admiral Duncan Potts, Operation Commander of the European Union Naval Force Operation Atalanta (EU NAVFOR) met on 18 September 2012 with President James Michel during his visit to the Seychelles, confirming the importance of the Seychelles in the fight against piracy in the Indian Ocean. Rear Admiral Potts, together with the EU NAVFOR…
JAKARTA: PT Pelabuhan Indonesia (Pelindo) II obtained working capital credit amounted to IDR1 trillion from BNI and Bank Mandiri. The facility will due in 1 year and may be extended upon the agreement of both parties. The loan is the initial stage of the financing agreement between the company and Pelindo II, said BNI’s…