The Economic Costs of Maritime Piracy
At the end of 2010, some 500 seafarers from more than eighteen countries were being held hostage by pirates. Piracy clearly affects the world's largest trade transport industry, but how much does it cost?
The One Earth Future (OEF) Foundation has conducted a large-scale study to quantify the costs of piracy in the Horn of Africa, Nigeria and the Gulf of Guinea, and the Malacca Straits. Anna Bowden, lead author of The Economic Costs of Maritime Piracy, will discuss the methods of research and the paper's potential as a tool for analysts and policy makers working towards solutions to piracy.