11 October 2012

According to One Earth Future Foundation’s report the estimated cost of Pirates of Somali to the world was between 6.6 and 6.9 billion dollars in 2011 and in 2010 between 7 to 12 billion dollars. In 2011 about 80% of the total costs were borne by the shipping industry. Overall if comparing 2010 and 2011, there was an increase in the attacks by Somali pirates. However, due to a more aggressive response from military forces conducting counter-piracy missions in the region and due to private armed security on the ships […]

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