A Piracy Risk Surcharge (PRS) is a fee imposed by the carrier on cargo owners to offset increased insurance rates for boats passing through piracy-prone areas. This levy is also used to fund anti-piracy programs against hijacking and kidnapping, as well as to account for increased maritime security. Sea piracy has been particularly prevalent in the Gulf of Guinea and the Gulf of Aden, as well as in neighboring countries such as Somalia, Yemen, and Djibouti.

Because insurance costs vary depending on the route, overall scenario, and insurer, ocean companies individually assess risk and establish the Piracy Risk Surcharge. The typical Piracy Risk Surcharge is between $100 and $200 per FEU. However, it is not uncommon for these levies to rise dramatically in piracy-prone waters. Carriers often publish their prices online or while quoting sea freight rates.

Shipping lines apply a piracy risk surcharge for a variety of reasons. The main reasons for passing these fees on to cargo owners are to balance the increased insurance premiums for their vessels, the extra security required on board, the higher fuel expenses owing to increased vessel speed, and the increased staff salaries.