According to a Dec. 30 report from Business Daily, the economic impact of piracy in the Gulf of Aden continue to hit East African region for the second year running, pushing up the cost of living significantly and robbing the region’s commodities’ competitiveness in the global markets. Business Daily reported that a section of shipping lines are contemplating more stringent deterrent measures to protect their vessels and crew against piracy. According to ship owners’ representatives in the country, some big liners are contemplating giving Mombasa and other affected ports a wide berth by dropping cargo destined for those ports at other strategic harbours. This means that shippers would have to pay twice for a single voyage.
(Source: Business Daily)