Open Briefing |
Maritime piracy costs the glo)al economy a)out 71 )illion a year accor!ing to the +orl! Ban8.
"he +est is particularly e/pose!6 40? of (urope>s oil imports an! close to $0? of the &nite! States> transit the area each year. (uropean )usinesses are affecte! since 90? of the cost of implementing security an! of circumnavigating along alternative routes comes out of the shipping in!ustry>s )u!get.
@isruption to tra!e in the region also results in higher prices for consumers.
Maritime piracy costs the global economy about $! billion a year according to the World "ank.
"he !rivers of maritime insecurity
Airacy off the Somali coast has its root causes in 'ea8 government control over the state a lac8 of legal economic opportunities an! the a)sence of the rule of la'. %n the a)sence of more sustaina)le alternatives international naval patrolling 'as steppe! up in or!er to tac8le the pro)lem. #s a result pirate attac8s !roppe! )y 0? )et'een 2010 an! 2012
though this re;uire! a maor allocation of resources. %n +est #frica the !estruction of peoples> livelihoo!s unemployment 'i!esprea! corruption an! political an! social insta)ility also !rive people to search for alternative means of sustenance. #s such maritime insecurity in the Gulf of Guinea has fertile groun! in +est #frican states upon 'hich to gro'. Most piracy attac8s in the region ta8e place in :igerian territorial 'aters. %t can )e argue! that maritime insecurity in the Gulf of Guinea initially ha! its epicentre in the oil,rich :iger @elta. Dac8 of )enefits !erive! from oil profits !eteriorating livelihoo!s a culture of la'lessness an! collusion of state authorities 'ith criminal net'or8s translate! into criminal activities oil,theft in particular. Oil theft 'hether on lan! oil,)un8ering5 or at sea is attractive )ecause of a )ooming )lac8 mar8et for fuel. %t is 'orth noting that the process of hiac8ing tan8ers syphoning off oil an! selling it on the )lac8 mar8et is costly an! re;uires high,;uality logistics 'hich in!icates that it is lin8e! to local elites.
Maritime insecurity in the Gulf of Guinea has fertile ground in West African states upon #hich to gro#.
%llicit tra!e is !riven )y insta)ility in +est #frica primarily in the Sahel. %nsurgent movements an! terrorist organisations such as al,Eae!a in the %slamic Maghre) #E%M5 rely on !rug traffic8ing an! arms smuggling to finance their activities an! operate in the region. %llegal fishing is attractive !ue to the ease of access to rich sources of fish mostly a result of lac8 of surveillance an! state control over territorial seas 'hich is !erive! not only from inefficient security resources )ut also from corrupt relationships )et'een navies or coast guar!s an! illegal fishing vessels.