Somali pirates influence drop in Suez transits - insurer

14 April 2009 22:43  [Source: ICIS news]

HOUSTON (ICIS news)--Somali pirates were partially to blame for a huge drop in oil, chemical tanker and other vessel transits through the Suez Canal, an executive with the world's largest marine insurer said in a news report on Tuesday.

Peter Townsend, executive director of Marine Aon, a unit of Aon Corp, the world's largest insurance broker, said that the 15% March decline in transits at the Suez was partly due to the global recession, according to Reuters.

But some of the blame, Townsend said, was also due many vessels sailing around the Cape of Good Hope rather than going through the Suez and risking capture just beyond the canal's southern end, in the dangerous Horn of Africa region.

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By: Lane Kelley
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