Welcome to the New Piracy Capital
Since the start of 2015, Southeast Asia has accounted for 55 per cent of the world’s 54 piracy and armed robbery incidents.
By Laura Southgate for Global Risk Insights
According to a recent report from the International Chamber of Commerce (ICC) and International Maritime Bureau (IMB), since the start of 2015, Southeast Asia has accounted for 55 per cent of the world’s 54 piracy and armed robbery incidents. According to these statistics, Southeast Asia has regained the reputation as the region in the world most afflicted by piracy.
The Strait of Malacca is a particular hotspot for piracy in the region, providing passage for approximately one third of world shipping. Separating Malaysia, Indonesia and Singapore, the straits are the key waterway linking Asian and European trade. Without significant regional efforts to combat the problem, the impact of piracy on trade and shipping costs is likely to be significant…
Source: International Policy Digest.