Maritime security firms have come together to create a code of conduct and ethics, prompted by alarm over the rising number of companies without seaborne experience aiming to cash in on the surge in Somali piracy. Increasingly violent attacks on …
Upstairs in a public house in the town of Poole on the English south coast, 18 men are preparing to take on the pirates of the Indian Ocean. Around antique polished wooden tables scattered with laminated charts, handouts and smart …
Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) global piracy report revealed. The IMB said the “sharp rise was driven …
Ship owners are calling on governments to curb the escalating threat from the increasingly audacious attacks by Somali pirates. The attacks are being blamed for “strangling key maritime supply routes and for costing the global economy up to $12 billion …
Somali piracy is worsening by the week and governments lack the political will to tackle the crisis, which is threatening world trade routes, shipping industry officials said on Friday. Shippers have warned that more than 40 percent of the world’s …
Insuring ships against piracy could become more expensive and subject to tighter conditions after the hijacking this week of oil tanker Irene SL, one of the most long-range attacks to date by Somali pirates. Analysts say the incident, some 1,000 …
A new report released from its Paris headquarters by the International Chamber of Commerce (ICC) indicates that the global economic and social impacts of counterfeiting and piracy will reach US$1.7 trillion by 2015 and put 2.5 million legitimate jobs at …
Malaysia’s navy was holding seven Somali pirates Saturday who were apprehended in the second dramatic commando raid within hours on ships seized near the African coast, authorities said. The operations gave both Malaysia and South Korea dramatic successes in the …
The latest news reports have covered the successful rescue of all of the 21 crew members of the South Korean-owned Samho Jewelry by Korean navy commandos. The reports indicate that 8 of the Somali-based pirates, who took over the ship …
A new report, compiled by US-based think-tank One Earth Future, has calculated that “maritime piracy is costing the international economy between $7 to $12 billion, per year.” The report notes that “at the end of 2010, around 500 seafarers from …
