Piracy Risk Surcharge
Shipping companies are exposed to increased risk in the Gulf of Aden, due to piracy. These shipping companies see their costs increase due to this risk in the form of increased insurance premiums. Hence for the duration of this threat of piracy, a surcharge is levied in addition to the sea freight.
This Piracy Risk Surcharge (PSS) is also referred to as the Gulf of Aden Surcharge.