Monitoring the hot spots.
Tracking Global Piracy Trends Across The Seas
Piracy has existed since the conception of shipping, and pirate attacks on vessels continue to disrupt trade, raising vessel security concerns and impacting the operation and insurance costs for ships. The drivers behind piracy are wide but primarily economic and clearly, geography is also key. This month, we take a closer look at recent shifts in the regional distribution of piracy ‘hot spots’.
Piracy remains a prevalent concern within the shipping industry, raising issues around vessel security, disrupting trade routes and increasing ship operation costs. In the year to date, 85 piracy attacks have been reported globally compared to 142 in the same period of 2015. While the overall incidence of piracy has fallen since 2012 when nearly 350 attacks were reported, the number of incidents remains significant (and is likely underestimated). In 2016 so far, six ships have been reported captured by pirates, this compares to 10 vessels in full year 2015, down from nearly 30 ships in 2011.
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