World News
IMB Calls for Global Reporting System to Address Piracy
The ICC International Maritime Bureau (IMB) is advocating for a global reporting system in light of the ongoing increase of piracy and armed robbery incidents, the organization announced this week.
The problem is particularly pronounced in Southeast Asia, with both Malaysian and Indonesian authorities reportedly gathering at the IMB International Meeting on Global Piracy, Armed Robbery and Maritime Security this week in Kuala Lumpur to draw attention to the kind of anti-crime efforts needed.
Development of the best management practices and a standardisation of global reporting was reportedly a priority.
"Information sharing and coordinated action between concerned coastal states is crucial in responding to this threat," said Pottengal Mukundan, director of IMB, who also added that quick response times would be necessary.
"However, the proliferation of reporting centres in some regions could create a degree of confusion that can leave seafarers and ships unnecessarily at risk."
The Inspector General of the Royal Malaysian Police also added that it would be useful to review the laws and conventions affecting the prosecution of pirates, with a view towards incorporating UNCLOS (United Nations Convention on the Law of the Sea) into Malaysian law in order to ensure prosecution.
Earlier this year, it was predicted that bunker theft would continue to fuel piracy in the region, especially as there is high demand for illicit oil.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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