Piracy 2012 – managing the risk
25 June 2012
Pirates operating from Somalia are becoming more audacious as well as more demanding in their ransom demands. Ships can be held for many months. Besides the substantial ransom payment, ship owners will likely incur millions of dollars of additional expenses.
Catlin’s latest special report, “Piracy 2012: Managing the Risk”, provides a practical guide from ship owners whose ships must travel through waters in which a piracy risk exists. The guide provides expert advice regarding steps that can be taken to reduce risk before the voyage commences, the procedures that should be followed if a ship is seized and the how to secure the safe release of the crew.
The guide also provides information about the controversial issue of whether armed guards should be place on board ships.
Download the full report.
Contact the Catlin Asset Protection Team at CatlinPiracy@catlin.com for further information about the services that Catlin can provide to ship owners.