Overseas Civilian Contractors

News and issues relating to Civilian Contractors working Overseas

The Pirate Surge That Never Was

MarineLink
David Rider, Neptune Maritime
Thursday, February 16, 2012, 1:45 PM

In September 2011, as the monsoon began to blow itself out, there were grave warnings from a number of sources and analysts that the shipping industry could expect to see a significant surge in pirate activity as conditions in the Arabian Sea and Indian Ocean became more favorable. Captain Keith Blount, chief of staff with EU NAVFOR, told the press1, “I think we are going to see a surge in piracy because we always have done at this time when the southwest monsoon abates and the seas become flatter.”

But as conditions cleared, the anticipated increase in pirate activity failed to materialize, to the surprise of many in the industry. This was all the more remarkable given the business model of Somali pirates, which demands that they hijack high value targets which can be ransomed for huge sums which are then used to pay off the investors who supply the equipment used by the pirates, their food and that of their hostages and so on. Without a reasonable turnover of hijacked vessels, pirates begin to run up big bills in their home ports and those cut into their profit margins. Pirates towards the end of 2011 were very much on the back foot, and successful hijackings were suddenly few and far between.

Please read the entire article here

February 16, 2012 - Posted by | Africa, Civilian Contractors, Pirates, Somalia | , , , , ,

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