• A New Way to Fight Piracy on the Open Sea

    06/22/2017 04:01 pm

    The economic cost of maritime piracy is on the rise once again as Somali pirates resume attacks on ships and resorting to old tactics of ransoming crew for money.  The State of Maritime Policy Report 2016, released last month by Oceans Beyond Piracy (OBP), states the economic cost of piracy caused by groups out of Somalia increased to $1.7 billion in 2016, from $1.3 billion in 2015.