A dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers. International navies have cracked down on pirates, …
According to the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) global piracy report attacks in East and West Africa accounted for the majority of world attacks in 2011, signaling a rising trend. Of the 439 attacks reported to …
Security firms led by G4S are providing armed guards to ships sailing pirate-infested Somali waters, with one start-up kitting out a gunboat to lead World War II style convoys, as ship owners step up their response to constant attacks. G4S, …
UK Prime Minister David Cameron announced plans to amend British law to allow UK registered vessels to employ armed guards as security, when they are transiting dangerous waters – mainly those off the coast of Somalia. Cameron’s initiative marks a …
“Pirates of the Caribbean” they aren’t. They are for the most part desperate men from a failed state that have discovered that one of the world’s oldest professions offers wealth and power, if you’re willing to take the risks. In …
The North P&I club announced that it has joined forces with specialist maritime intelligence, investigation and crisis management company GRAY PAGE to vet armed maritime security providers (AMSPs) on behalf of the club’s members. North P&I said its goal is …
More ship insurers are backing the use of private armed guards on merchant vessels at sea to combat Somali piracy as attacks and the resulting costs are set to rise in coming weeks, industry officials said on Tuesday. Pirate attacks …
Germany plans to lobby other European Union countries to allow the deployment of private armed guards on their merchant ships in high-risk areas as a piracy crisis escalates, ministry officials said. But analysts said the initiative was likely to face …
