Tom Oertling, who teaches in the Maritime Studies Program in the General Academics Department at the Galveston campus, says pirates have been around about as long as there have been ships. Modern-day pirates are regarded as folk heroes in many countries and in today's worldwide economic hard times, they almost represent a growth industry.

The number of pirate attacks has dramatically increased in recent years. Figures from the International Chamber of Commerce show there have been more than 1,500 pirate attacks since 2008, with almost 450 occurring in 2010. There have been about 160 so far this year, the study shows.

"Records show that pirate attacks have occurred for thousands of years, and their methods have not changed much at all," he notes.

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Keywords: supply chain risk management, pirate attacks on ocean shipping