Piracy costs more than USD 3 billion a year

Every year it costs more than USD three billion to fight piracy in East and West Africa, according to a new report. Shipping pays a big part of the bill.

Shipping is far from finished with dealing with piracy when freight vessels sail in the Gulf of Aden off the costs of Somalia or in the Gulf of Guinea off of the African West Coast. USD three billion a year is what it costs to fight piracy off the coasts of Africa, according to a new report from the organization Ocean Beyond Piracy, notes the Danish Shipowners' Association in a statement.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
Must contain at least 6 characters
Must contain at least 2 characters
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Share article

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Further reading