We've always told our captains to stay far from the coast in that region, but that may not be enough now,'' De Stoop said. Terrorists or pirates, I don't really see the difference.''
The three companies join Frontline Ltd., the world's largest operator of supertankers, which yesterday said it was considering avoiding the region. There have been at least 88 attacks against ships in the area since January and Somalian pirates are holding 250 crew hostage on board 14 merchant vessels.
Shippers may instead have to route their vessels around South Africa's Cape of Good Hope rather than use Egypt's Suez Canal, increasing the cost.
The waterway linking the Mediterranean and Red Seas is Egypt's third largest
foreign- currency earner after tourism and expatriate remittances.
Customers have been given the option to safeguard their cargo,'' BW Gas's Pettersen said from Oslo. For us, we would prefer them to use the
cape route.''
Pirates on Nov. 15 seized their largest ever prize, a Saudi Arabian supertanker laden with 2 million barrels of crude, worth about $108 million at current prices. The ship itself is worth about $148 million.
Chemicals Shipping
Odfjell SE, the world's largest chemicals shipping line, said Nov. 17 it will avoid the Suez Canal and Gulf of Aden. The Joint Hull Committee, a group representing ship insurers, is advising shipowners to seriously consider''
avoiding Somalian waters, Chairman Simon Stonehouse said yesterday.
Insurance premiums will rise and unless the Egyptian government becomes more actively interested'' in combating piracy in the region they risk damaging the business of the Suez Canal, Stonehouse said.
The European Union last month joined the North Atlantic Treaty Organization, India, Malaysia and Russia in deploying vessels to combat piracy.