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Shipping forms joint venture to aid Somalia

Several shipping companies and oil companies have announced a joint venture on Friday to cooperate with the U.N. to build capacity in Somalia in an effort to undermine the pirate industry. USD 1 million have been allocated at first, and the money will be distributed this year.

Photo: Lars From

The major shipping companies Kawasaki Kisen, Maersk, Stena, NYK, and MOL, together with oil companies Shell and BP, have decided to collaborate with the U.N.'s development program, UNDP, by providing USD 1 million. The money will be distributed among various anti-piracy initiatives in Somalia during 2013.

The companies have chosen to work with the UNDP because of the organization's expertise in undermining piracy. For instance, the UNDP operates a project called "Alternative Livelihoods to Piracy in Puntland and Central Regions," an anti-piracy effort.

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