As piracy falls, what new challenges do CSOs face?
The post-piracy hangover
In this era of relative calm, Harry Pearce from Ambrey Risk reminds us that the challenge ahead might be closer than we think.
Introspection is rife among those who once claimed a stake in the safety of seafarers transiting off Somalia. It is evidence enough that there has been a quick-fix to what was apparently an all-consuming threat to global trade. In fact, a working paper published earlier this year finds embarked security teams had a far more quickening effect on reducing piracy- and the cost of piracy- off Somalia than did the much-lauded coalition forces. And while it is not always the case that the private sector leads where others follow, consolidation has begun and naval mandates will likely retire in the months ahead.
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