It is estimated that seaborne piracy amounts to worldwide losses of between $13bn and $16bn a year.I would note a slight decrease in Somali piracy since France and the Netherlands started escorting UN relief shipping and coalition forces began hanging around the area.
Piracy peaked in 2003 with 445 attacks around the world and since then, they have more or less steadily come down.
In 2006, there were 239 attacks. Last year, the number increased slightly to 249.
Although attacks have decreased from the early 1990s, Rupert Herbert-Burns, a maritime security expert at Lloyd's Intelligence Unit, says piracy is still a worrying problem.
"Attacks rose by 14% towards the end of last year, largely due to attacks off the Horn of Africa, specifically in Somali waters or in the territorial waters off Somalia," he said.
Landing the Big One
Tuesday, March 11, 2008
Which, while probably not true, is an eye-catching headline. Article pointing out that pirates still roam some sea lanes here: