Piracy in Asia down 65%
Wednesday, 10 26 2016, Category: Insurance and Reinsurance, Country: Asia
The incidence of piracy and armed robbery on seafaring vessels for January to September has gone down by 65% compared to last year. This was revealed by Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) in its quarterly report.
For the first nine months of 2016, there were 59 incidents of armed robbery or piracy, compared to 169 incidents during the same period last year, signifying a 65% decrease. Of the 59 incidents, 56 involved armed robbery whilst three involved acts of piracy. Forty-three incidents occurred while ships were anchored or docked, while 16 happened to sailing ships.
Source: Insurance Business