Scared marine companies don't report ordeals; sloppy tracking a boost to Somalian pirates
The frantic appeals made recently by Seema to save her husband Prabhat Goyal, the Captain of Stolt Valor, might not have found an echo on Indian ears deafened by the Delhi bomb blasts. Captain Goyal’s ship, with his 22-member crew on board, was recently hijacked in the Gulf of Aden by Somali pirates. The Indian government has ruled out involving its navy in the Gulf of Aden, citing a UN resolution; due to which the crew has not returned till date. Officially, Stolt Valor's hijack was 60th attack of its kind – in the precincts of Somalia alone – this year. The real toll is leaps ahead. Major General (retired) Syed Ali Hamid, board member, Kestral Defence Consultancy Services in Pakistan told this journalist at the DIMDEX conference in Doha this year that the official figure is understated by as much as 2,000%!
Hamid's claim might sound absurd. But then the International Maritime Bureau (IMB) does not deny what Hamid says. “There is definitely an under-reporting of the incidents. There is at least 50% underreporting in the cases in the Niger Delta,” says Cyrus Mody, a manager at IMB's London office. Reasons for the suffering marine companies maintaining a silence are astonishing. “The companies fear that reporting may bring a greater harm later. If the pirates pitied off physical harm to the crew members in the first raid, they might decide for physical injuries in the second. The ships have to move and the routes will not change,” Mody says. That the insurance companies would hike their premiums if every incident of piracy gets reported, is the less convincing reason for companies opting out of reporting their ordeals.
The frantic appeals made recently by Seema to save her husband Prabhat Goyal, the Captain of Stolt Valor, might not have found an echo on Indian ears deafened by the Delhi bomb blasts. Captain Goyal’s ship, with his 22-member crew on board, was recently hijacked in the Gulf of Aden by Somali pirates. The Indian government has ruled out involving its navy in the Gulf of Aden, citing a UN resolution; due to which the crew has not returned till date. Officially, Stolt Valor's hijack was 60th attack of its kind – in the precincts of Somalia alone – this year. The real toll is leaps ahead. Major General (retired) Syed Ali Hamid, board member, Kestral Defence Consultancy Services in Pakistan told this journalist at the DIMDEX conference in Doha this year that the official figure is understated by as much as 2,000%!
Hamid's claim might sound absurd. But then the International Maritime Bureau (IMB) does not deny what Hamid says. “There is definitely an under-reporting of the incidents. There is at least 50% underreporting in the cases in the Niger Delta,” says Cyrus Mody, a manager at IMB's London office. Reasons for the suffering marine companies maintaining a silence are astonishing. “The companies fear that reporting may bring a greater harm later. If the pirates pitied off physical harm to the crew members in the first raid, they might decide for physical injuries in the second. The ships have to move and the routes will not change,” Mody says. That the insurance companies would hike their premiums if every incident of piracy gets reported, is the less convincing reason for companies opting out of reporting their ordeals.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM - FLP (Flexi Learning Program)
