The Jordan Harbinger Show

739: Matthew Campbell | Examining Global Shipping’s Grim Underbelly

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Synopsis

Matthew Campbell (@MattCampbell) is an award-winning reporter and editor for Bloomberg Businessweek magazine and the co-author, with Kit Chellel, of Dead in the Water: A True Story of Hijacking, Murder, and a Global Maritime Conspiracy. What We Discuss with Matthew Campbell: The International Chamber of Shipping estimates about 90 percent of world trade is carried by the international shipping industry to the tune of around $14 trillion (about 2/3rds of the US GDP) per year. Piracy persists in places along these lucrative shipping lines because people who have nothing to lose are willing to risk their lives for potentially big payouts. Why insurance surveyor David Mockett didn't quite buy the story that Somali pirates had attacked oil tanker Brillante Virtuoso when he investigated the site — and how it led to his murder. Insurance fraud is one of the world's oldest rackets, with instances documented as far back as ancient Greece. Why rogue ship owners will fly "flags of convenience" — flags of countries