Sunday, May 8, 2011

Maersk Tackles Piracy

Sunday, May 8, 2011

COPENHAGEN -- The world's largest shipping company, A.P. Moller-Maersk A/S, is stepping up efforts to battle the widespread piracy off the coast of Somalia, a problem it says is becoming ever bigger and increasingly costly.

Maersk's container freight division has now raised the emergency risk surcharge on each 40-foot container shipped through risky waters to $200 to $500 from $100 to $400 in a move to pass on some of the rising costs to its customers, the unit's head of daily operations, Erik Rabjerg Nielsen, said.

The risk surcharge hike reflects on one hand a spike in the number of ...

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