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Nuisance level will drive world response to piracy

Monday, July 15, 2019

Subject

Declining maritime crime around the world.

Significance

Piracy and seaborne armed robbery appear to be declining globally, from 245 incidents logged by the International Maritime Bureau (IMB) in 2014, to 201 in 2018. However, no global factor drives the data, which aggregate local sub-totals.

Impacts

  • Rises and falls in pirate attacks may be reflected in shipping insurance rates and sailors' reluctance to sail into danger.
  • Oil industry interests will continue lobbying for more government attention to piracy in the Gulf of Guinea.
  • Security firms will use the Gulf of Guinea surge to drum up custom for anti-piracy consultancy business.
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