Piracy a growing issue. Alot of Aussie grain exports go to these areas. Shipowners more and more asking the grain companies to help with 'costs' associated. ie inurance costs., extra transit costs to (travel further to avoid pirates), onboard security etc etc. These costs now significant as a percentage of total costs due to the low charter prices.
5 years ago shipowners had to pay sometimes usd 250,000 per shipment extra in insurance to go to Iraq during the war. Nothing ever happened but someone had to absorb those costs and it ended up being the grain exporters..
