February 18 - In response to escalating costs associated with the ever-growing menace of piracy, BBC Chartering has decided to implement a Piracy Prevention Surcharge.
BBC says that the surcharge will be determined case by case, based on the cargo and the voyage.
In an official statement, the company says that the constant threat of piracy has forced it to invest in defensive security equipment for its vessels, additional crew training, and also reroute vessels, all of which increases costs. "These costs are mounting, and we can no longer absorb them alone. We must begin passing on part of the cost of combating piracy to our customers."