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Home » Cost of Combating Somali Piracy Declines as Number of Attacks Reduced

Cost of Combating Somali Piracy Declines as Number of Attacks Reduced

April 15, 2013
Maritime Executive

The cost of private security and greater fuel costs from sailing at higher speeds made up more than half the overall cost, the report said. Other expenditures entailed maintaining permanent naval forces to combat piracy in the Indian Ocean as well as re-routing such forces.

Greater use of armed guards, marginally improved law and order in onshore Somalia, more prosecutions of pirates and increasingly aggressive naval action are all credited with bringing about a drastic reduction in attacks.

According to EU NAVFOR, the European Union naval task force that is one of several military forces patrolling the Indian Ocean, there were only 36 confirmed pirate attacks in 2012 compared to 176 the previous year. Only five ships were captured, down from 25 in 2011 and 27 in 2010.

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Logistics Global Logistics Logistics Outsourcing Ocean Transportation Transportation & Distribution Global Supply Chain Management Regulation & Compliance Supply Chain Security & Risk Mgmt
KEYWORDS Global Logistics Global Supply Chain Management Indian Ocean piracy Logistics Logistics Outsourcing Maritime Executive Ocean Transportation ocean transportation piracy Regulation & Compliance SC Security & Risk Mgmt Somali pirate attacks Supply Chain Analysis & Consulting Supply Chain Management Supply Chain Management: Supply Chain Security & Risk Management Supply Chain Risk Management Transportation & Distribution
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