Piracy Driving Up Shipping Costs - Africa's Dangerous Waters

While almost all the attention on and, hence, resources for combating piracy in African waters have of late been focused almost exclusively on the waters off the Somali coastline (see my most recent report on the "Return of the Somali Pirates"), a bloody attack last week is a reminder that the Gulf of Guinea on the opposite side of Africa can be equally dangerous—if not more so—even if it does not grab headlines with spectacular heists like this week's capture of the Greek supertanker MV Maran Centaurus as it was transporting more than two million barrels of oil destined for the United States.