Of PMSCs and cheap parachutes

Risk, pirates and private security.

Dryad Maritime: Of PMSCs and cheap parachutes

Portsmouth: What do many private maritime security companies and cheap parachutes have in common? It sounds like the start of nautical joke, but is in fact an important part of an argument put forward by Graeme Brooks in today’s Maritime CEO interview. The ceo of UK-based Dryad Maritime, a maritime risk advisory company, reckons that the role and number of PMSCs is set for a huge change in the coming months.

As the suppression of piracy in the Horn of Africa continues,” Brooks says, “I think we will see a significant change in the way that maritime security is approached. The race to the bottom in pricing has left some shipowner/operators and charterers spending money on ineffective or even unsafe armed solutions because they charged the least. Our advice is that this is rather like buying a cheap parachute – either do it properly or don’t waste your money.”

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Source: splash247.com

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