Expanded Indian ocean piracy threat boosts cost of Richards Bay freight

摘要

Renewed concerns about piracy in the Indian Ocean on the part of ship owners has forced up freight rates for vessels chartered from Richards Bay in South Africa to Indian dis-charge ports, according to market sources. At the end of last week, there was a sudden jump of $2-$3/mt to $15.70-$18.50/mt in the cost of freight for panamax coal shipments from Richards Bay to Indian ports. Ships passing through the Indian Ocean on their way to India are taking circuitous routes to avoid armed pirates from east Africa who have extended their range of operations far into commercial shipping lanes.