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Table 2 Estimated cost of reported ransoms per premium rate to piracy event.

From: Delineating the relationship between maritime insecurity and COVID-19 pandemic on West African maritime trade

 

2016

2017

2018

2019

2020

2021

Q1

Q2

Incidental Cost of Event per Premium

62

75

83

134

135

40

50

      

90

 

Max 10million USD

620,000,000.00

750,000,000.00

830,000,000.00

1,340,000,000.00

1,350,000,000.00

900,000,000.00

 

Max 30million USD

1,860,000,000

2,550,000,000.00

2,490,000,000.00

4,020,000,000.00

4,050,000,000.00

2,700,000,000.00

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