Enforcing the Law: An Economic Approach to Maritime Piracy and its Control

Enforcing the Law: An Economic Approach to Maritime Piracy and its Control

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.

The Menace of Maritime Piracy and Somali Pirates – Is There a Solution?

The Menace of Maritime Piracy and Somali Pirates – Is There a Solution?

Maritime piracy has been on the rise with the increasing attacks of Somali pirates along African coastline. As the threat to the lives of seafarers and property increases, everyone wonders if there is way to fight this menace. The world desperately awaits for some concrete anti-piracy solutions.

28 Online Resources for Maritime Piracy and Somali Pirates

With the increase in piracy at the sea, especially around the coast of Somalia, several maritime organizations and defense agencies have started providing online updates on events related to maritime piracy that are taking place around the world. Mentioned herein are twenty eight resources on maritime piracy and Somali pirates.

Pirate Ransom Negotiations: Resolving the Paradoxes of Extortionate Transactions with Somali Pirates

Pirate Ransom Negotiations: Resolving the Paradoxes of Extortionate Transactions with Somali Pirates

Somali pirates take a very business-like approach to their craft. They attack big ships that can pay. However, after capturing several ships they have learned about what type of ships to target and which ship owner is able or willing to pay ransom money.

Audacious Open-ocean Ambush of Product Tanker in Gulf of Guinea

Audacious Open-ocean Ambush of Product Tanker in Gulf of Guinea

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.