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International

Piracy drop gives boost to India's attempts to reverse extended high-risk area

January 24, 2014 Reprints

Figures from the International Maritime Bureau, showing that sea piracy has reached its lowest levels in six years, have given a boost to India's bid to reverse a December 2010 decision to expand the areas considered high-risk areas, Indian business newspaper Mint reports.

That expansion by the International Maritime Organization (IMO) and marine insurers led to a 300-fold surge in ship insurance costs. IMB said dwindling Somali piracy off East Africa was the main reason for the fall in worldwide piracy, Mint reports.

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Piracy drop gives boost to India's attempts to reverse extended high-risk area

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