Modern piracy on the high seas costs the global economy billions of dollars, with hundreds of piracy attacks every year. Pirates target cargo aboard ships, including supertankers and cruise liners, and also attempt attacks on sailboats. Some nations experience quasi-military piracy. Piracy tends to be underreported, but some insurance companies are working with major shipping companies to incorporate LoJack systems to prevent hijackings. Rising global instability contributes to the threat of piracy, with a small number of nations taking action against pirates.
Most people conjure up an image of a man with an eye patch and a peg leg with a parrot when they think of pirates, assuming a person downloading software illegally doesn’t come to mind. What many people are unaware of is that modern piracy on the high seas costs the global economy billions of dollars. Some regions of the global ocean are considered extremely dangerous, including the waters surrounding Indonesia and Somalia. According to the International Maritime Bureau, there are hundreds of piracy attacks every year.
Piracy is done for cargo aboard ships, which are sometimes scuttled or retrofitted so they cannot be identified. These “ghost ships” are used to carry out further pirate attacks and move illegal goods globally. Most of these vessels are eventually repossessed by their owners. Pirates are especially common in Southeast Asia and off the coast of Africa, where unstable local governments have created a power vacuum that is easily filled by pirates.
Two favorite targets of pirates are supertankers or large crude carriers, vessels designed to carry extremely large quantities of expensive goods. These vessels are slow moving and therefore are easy targets, especially in difficult to navigate areas. In most cases, the ships are almost fully automated and therefore have limited staff to defend against pirates. Several major shipping companies have begun implementing measures to try to curb piracy, but these measures are sometimes countered from within by mutinies and takeovers made by ship personnel. Murder of crew members is known to have occurred, with death by piracy an unfortunate occurrence for some merchant seamen.
Pirates also attempt attacks on cruise liners and sailboats for the lucrative cargo inside. Some cruise ship passengers carry thousands of dollars, meant to last the duration of a sometimes long voyage. When faced with armed pirates, most passengers will hand over their cash and personal belongings. Successful cruise ship attacks are rare, thanks to a well-trained crew who act quickly to prevent piracy.
Some nations also experience quasi-military piracy, attacks on ships carried out by desperate members of the national military who don’t earn enough to survive. Using military equipment, uniforms, and credentials, these pirates can gain access to and loot a wide variety of ships. In this case, pirates usually attack small, personal vessels that are easy to raid.
Piracy tends to be underreported, due to the way marine insurance policies are written. Most companies will report the vessel as lost to collect insurance, rather than captured by pirates. Some insurance companies are working with major shipping companies to incorporate LoJack systems, aimed at tracking and preventing hijackings, or at least recovering stolen vessels, which can cost a shipping company millions of dollars in losses.
Modern pirates began to pose a growing threat in 2000, with a 60% increase in pirate attacks over the previous year. Rising global instability contributes to the threat of piracy, with a small number of nations starting to take action against pirates infesting their coastal waters. Several global bodies monitor piracy, including the International Chamber of Commerce, which also provides tips for avoiding and repelling pirate attacks.
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