Asia, led by India and China, could take 75 percent of South Africa's 65 million tonnes of thermal coal exports in 2010 as demand shifts from glutted Europe, putting many more ships in the gun sights of Somali pirates, analysts said.
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VULNERABLE VESSELS
Companies involved in this seaborne coal trade said they have already had to swallow higher costs due to taking longer routes to avoid pirate hotspots and insurance premiums.
A senior shipper said piracy risk cover on a voyage from South Africa to India added $30,000 on top of the basic insurance cost. A further $40,000 to $50,000 had to be added for longer diversions aimed at avoiding pirates.
J. Peter Pham, an African security adviser to U.S. and European governments and private companies, said dry bulk ships carry commodities such as coal, iron ore and grains, were vulnerable partly due to their slow speed and older age.
"When they are fully loaded with their cargo they tend to have a low freeboard (the distance between a ship's railings and the water) so they are easier as targets to attack even when they are moving," he said.
"If you are moving more coal in these types of carriers, it is fairly reasonable to say you are probably going to get more attacks on them."
Global pirate attacks on dry bulk carriers hit their highest last year since 2003 with 109 ships targeted, data from the International Maritime Bureau watchdog showed. Continued...
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