While maritime piracy directly targets only a small fraction of commercial global shipping traffic in a given year, its effects can cost shipping companies billions of dollars in extra insurance costs, fuel consumption and onboard security measures. The piracy threat is limited to small but important waterways where disruptions to traffic can impact global trade and, in some cases, be disastrous for specific countries.
We will first examine tactics, targets and locations that are either locally or regionally important. We will then consider globally significant locations, counterpiracy options and implications. PDF Download, 14 pages.
Tactics can vary dramatically by region, helping shippers determine what security measures they should take, as well as what costs they are willing to absorb in order to continue operating in a high-risk area.
