Tuesday, October 23, 2012
Piracy at lowest level since 2006
Beefed up security such as increased naval monitoring and the use of armed guards have consistently foiled attacks this year on vessels traversing the Asia-to-Europe trade route. In fast, Somalia piracy highjack events have dropped to their lowest level since 2006.
The International Maritime Bureau announced there was one attack reported last quarter, compared to 36 attacks during the same period in 2011. Attacks cost the industry and governments $6.9 billion last year, according to the One Earth Future Foundation.
"We welcome the successful robust targeting of pirate action groups by international navies in the high-risk waters off Somalia," IMB Director Pottengal Mukundan said in the report. "There can be no room for complacency. These waters are still extremely high-risk and the naval presence must be maintained."
For more of the Businessweek story: businessweek.com
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