Piracy Causes Shipping Rates to Increase

Increasing piracy in the Gulf of Guinea (that’s below the hump on the west coast of Africa) has cause shipping rates to West Africa to rise above rates to the east coast of North America. I don’t know why I find that simple fact so interesting.

“The technical explanation has do to with the need to spend more time
steaming farther off shore to limit piracy risks that rise with
anchoring inshore.” Here.

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