Shipping companies want piracy readiness scaled back
The shipping companies' faith in the positive developments at the Horn of Africa is growing so much that they are now starting to prepare for a time with a lower threat of piracy, says Risk Intelligence to ShippingWatch.
BY TOMAS KRISTIANSEN
Though the threat is still there, and the Danish Shipowners' Association still warns against slackening the effort, shipping companies have started preparing for a time with a lower threat of piracy off the coast of Somalia.
Belgian shipping family Saverys acquires additional shares in Euronav and now only needs a small increase of its equity position to block a full merger between the tanker operator and rivaling company Frontline.