Uganda: Traders Could Lose U.S.$0.5 Million From Somali Piracy

Although Uganda is in the process of forming a Shippers Council, its expedition would have saved 48 local traders who are likely to lose over $468,000 (Ush900 million).

Goods worth $468,000 and owned by Ugandans were among other goods being transported by a German container ship the Hansa Stravanger that was highjacked by Somali Pirates off the Somali coast before it docked at Mombasa port in April this year. Now the shipping line that transported the goods is demanding for extra payment of general average of 40% of Cost Insurance and Freight (CIF) because of the delays that were caused by the pirates.

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