We have a new poster Jebus who is a shipowner and is giving excellent feedback on lots of topics.
I thought I would bump his answer with regards to a previous 'pirate thread'.
As a shipowner, whenever I'm asked to quote a for a trade which involves passing through the Gulf of Aden, or Somalian Coasts, I always demand that firstly, the War Risk Premium to be covered by Charterers and secondly, the Ransom and Kidnapping Cover to be at least splitted 50/50 between owners and/or Charterers (if not entirely).
Both these premiums depend of type of vessel, size, freeboard, Hull and Machinary insurance value etc).
Due to the high constant risk in the area, all vessel's which are passing the GOA, have the option to register themselves with Nato and other military organisations which are operating from Dubai and/or London and covering the vessel's movements in the area. In this way, you can always use the safe convoys for transiting specific corridors.
Nice one Jebus!
- The Virtual Shipbroker
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