Piracy off the coast of Somalia has been a threat to international shipping since the beginning of the Somali Civil War in the early 1990s.[1] Since 2005, many international organizations have expressed concern over the rise in acts of piracy.[2][3] Piracy impeded the delivery of shipments and increased shipping expenses, costing an estimated $6.6-$6.9 billion a year in global trade according to Oceans Beyond Piracy (OBP).[4] According to the German Institute for Economic Research (DIW), a veritable industry of profiteers also arose around the piracy. Insurance companies significantly increased their profits from the pirate attacks as insurance companies hiked premium rates in response.[5]
Combined Task Force 150, a multinational coalition task force, took on the role of fighting the piracy by establishing a Maritime Security Patrol Area (MSPA) within the Gulf of Aden and Socotra Passage.[6] According to the International Maritime Bureau, pirate attacks had by October 2012 dropped to a six-year low, with only one ship attacked in the third quarter compared to thirty-six during the same period in 2011.[7] By December 2013, the US Office of Naval Intelligence reported that only 9 vessels had been attacked during the year by pirates, with zero successful hijackings.[8] Control Risks attributed this 90% decline in pirate activity from the corresponding period in 2012 to the adoption of better management practices by vessel owners and crews, armed private security on board ships, a significant naval presence, and the development of onshore security forces.[9]
- ^ Khan, Sana Aftab. "Tackling Piracy in Somali Waters: Rising attacks impede delivery of humanitarian assistance". UN Chronicle. United Nations Department of Public Information, Outreach Division. Archived from the original on 2007-11-15.
- ^ "Piracy: orchestrating the response". International Maritime Organization.
- ^ "Hijackings cut aid access to south Somalia, lives at risk". World Food Programme. Archived from the original on 2013-12-17. Retrieved 2015-01-25.
- ^ Anna, Bowden. "The Economic Cost of Somali Piracy 2011" (PDF). Oceans Beyond Piracy.
- ^ "The Advantage of Piracy". German-foreign-policy.com. Retrieved 17 December 2011.
- ^ Commander, Combined Maritime Forces Public Affairs (29 September 2008). "Combined Task Force 150 Thwarts Criminal Activities". US Africa Command. Archived from the original on 6 December 2008. Retrieved 17 November 2008.
- ^ Alaric Nightingale, Michelle Wiese Bockmann (22 October 2012). "Somalia Piracy Falls to Six-Year Low as Guards Defend Ships". Bloomberg News. Archived from the original on October 24, 2012. Retrieved 25 October 2012.
- ^ Yanofsky, David (27 December 2013). "Somali piracy was reduced to zero this year". Quartz. Retrieved 14 January 2014.
- ^ "Somali piracy is down 90 per cent from last year". The Journal. 15 December 2013. Retrieved 14 January 2014.