Tanker hijackings raise piracy concerns in seas around S'pore
Insurance premiums could rise if there are more attacks
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[SINGAPORE] Two tanker hijackings in about a month in the South China Sea and Malacca Strait, a route for about a quarter of sea borne oil trade, have fuelled fears piracy could be on the rise in the area, potentially driving up ship insurance premiums.
On Nov 7, pirates hijacked a tanker carrying marine gasoil in the strait near Pulau Kukup, Malaysia, and stole its cargo before the ship and crew were released.
It was the second hijacking in waters around Singapore this year after an attack on a Thai-registered tanker laden with gasoil near Pulau Aur, Malaysia, in the South China Sea on Oct 10. The ship was released after its cargo was transferred to another tanker.
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