The shipping industry cannot rely on the navies and traditional law enforcement to protect them from pirate attacks and to hold pirates accountable. Read more on what shippers can do for protection against pirate attacks.
A recent piracy attack represents a step change in tactics that could, if repeated, be a game changer in Gulf of Guinea piracy. The pirates made an unsuccessful attempt at boarding a product tanker from the stern, but eventually fell behind as the ship’s master opened the range. Read more inside the article.
Modern day maritime piracy is a world-wide phenomenon that poses a serious threat to international shipping. An economic approach to the control of maritime piracy is based on the general economic theory of law enforcement that views offenders (pirates) as rational decision makers who would respond to threatened punishments.