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Piracy in Southeast Asia is on the rise, with marine gas oil (MGO) increasingly targeted for theft and resale, CNN reports.

The rising price of fuel, along with the increasing adoption of slow steaming, are making ships more appealing and more vulnerable to attack.

The Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) found that high bunker prices led to at least four attacks in 2011 and 2012 where fuel was siphoned from ship tanks.

Of 22 pirate attacks so far in 2013, nine took place around Southeast Asia, while there was just one in Somalia.
 

The top 10 states for cargo theft, according to CargoNet’s Second Quarter 2012 U.S. Cargo Theft Report, are: California, Texas, Florida, Illinois, New Jersey, Georgia, Pennsylvania, Alabama, South Carolina and Tennessee.

By product type, food and drink are most often stolen, followed by home and garden products, clothing, and electronics.

CargoNet, an organization focused on preventing cargo theft and increasing recovery rates, noted that in the second quarter of 2012 warehouse/distribution centers, surpassed truck stops as the primary locations where cargo thefts occur. Parking lots, terminals and terminal yards also ranked high on the list of common sites of cargo theft.

The 82,000 dwt Kamsarmax bulk carrier was recently named in Vietnam's Hyundai Vinashin Shipyard (HVS).

Nissaki is built for St Michael Shipping of Greece, marking a significant milestone in the development of the shipbuilding capability of Vietnam, being the biggest ship built to date in the country to Lloyd's Register class.