An Indian frigate sunk a pirate vessel on Tuesday night after the pirates threatened to attack, the navy said yesterday. The encounter is the second this month in which Indian forces have repulsed such threats in the area.
The development comes as the rising incidence of piracy off Somalia begins to affect shipping costs for exporters and insurance for shipowners.
Taiwan's TMT, a big operator of dry bulk ships and tankers, yesterday became the latest shipping company to say it was considering avoiding the Gulf of Aden and taking goods bound for Europe and the US around the Cape of Good Hope instead.
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