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Member, Beacon International Group, Ltd.
Insurance premiums paid by Indian shipping companies might be affected after the country's Directorate General of Shipping issued an advisory to Indian vessel owners to refrain from sailing in the Gulf of Aden off Socotra Island due to a spate of piracy-related incidents in the region, Hellenic Shipping News Worldwide reported citing DNA Money. "Those who violate the instructions and decide to operate their vessels in these waters would be doing so at their own risk only," said Santoshkumar Darokar, deputy director general of shipping (technical) and nautical surveyor at the Mercantile Marine Department.