The Economic Cost of Maritime Piracy 2010

The Economic Cost of Maritime Piracy 2010

At the end of 2010, around 500 seafarers from more than 18 countries are being held hostage by pirates. Piracy clearly affects the world’s largest trade transport industry, but how much is it costing the world? One Earth Future (OEF) Foundation has conducted a large-scale study to quantify the cost of piracy as part of its Oceans Beyond Piracy project. Based on our calculations, maritime piracy is costing the international economy between $7 to $12 billion in 2012. This project is designed to be a collaborative effort, and we welcome feedback and suggestions from stakeholders concerned with the issue of maritime piracy. We hope that it will be a useful tool for analysts and policy makers working towards solutions to piracy.


Click to view the most recent report in the series, The State of Maritime Piracy 2014

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Type of Document:
State of Maritime Piracy
Subject:
Counter-piracy, Economic Impact, Piracy
Region:
Somalia
Author:
Anna Bowden
Project Team:
Eamon Aloyo, Kaija Hurlburt, Andrew Lee, Charles Marts