According to the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) global piracy report attacks in East and West Africa accounted for the majority of world attacks in 2011, signaling a rising trend. Of the 439 attacks reported to …
Security firms led by G4S are providing armed guards to ships sailing pirate-infested Somali waters, with one start-up kitting out a gunboat to lead World War II style convoys, as ship owners step up their response to constant attacks. G4S, …
“Pirates of the Caribbean” they aren’t. They are for the most part desperate men from a failed state that have discovered that one of the world’s oldest professions offers wealth and power, if you’re willing to take the risks. In …
Germany plans to lobby other European Union countries to allow the deployment of private armed guards on their merchant ships in high-risk areas as a piracy crisis escalates, ministry officials said. But analysts said the initiative was likely to face …
Gray Page, a specialist maritime intelligence, investigation and crisis management company, has advised that the IMO’s Maritime Safety Committee’s (MSC) recently approved interim guidance on the employment of privately contracted armed security personnel (PCASP) to combat piracy, “underlines the requirement …
Risks are growing that incidents at sea involving China could lead to war in Asia, potentially drawing in the United States and other powers, an Australian think tank warned on Tuesday. The Lowy Institute said in a report that the …
Ship owners are becoming increasingly concerned about the financial consequences of a rise in ship charterers filing for bankruptcy. In order to protect owners’ vital revenue streams from this risk, Marsh launched Charter Default, a product that provides a mix …
Maritime security firms have come together to create a code of conduct and ethics, prompted by alarm over the rising number of companies without seaborne experience aiming to cash in on the surge in Somali piracy. Increasingly violent attacks on …
Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) global piracy report revealed. The IMB said the “sharp rise was driven …
Ship owners are calling on governments to curb the escalating threat from the increasingly audacious attacks by Somali pirates. The attacks are being blamed for “strangling key maritime supply routes and for costing the global economy up to $12 billion …
