Somali piracy has fallen nearly 50% to $3.2 Billion Oceans Beyond Piracy (OBP), a project of OneEarth Future Foundation, is launching the fourth installment of its annual reportsdetailing the economic and human costs of African maritime piracy. The study titled"The State of Maritime Piracy 2013" examines the costs incurred as a result of piracyoccurring off the coast of Somalia, as well as in the Gulf of Guinea.The study finds that attacks by Somali pirates are increasingly rare, and that, atbetween $3 billion to 3.2 billion, the overall economic costs of Somali piracy are downalmost 50 percent from 2012. However, at least 50 hostages remain in captivity, heldon average for nearly three years under deplorable conditions.Regarding Africa's West Coast, this report is the first comprehensive attempt byany organization to quantify the total economic cost of maritime piracy in that region.Piracy in the Gulf of Guinea remained a significant danger in 2013, says the report, withlevels perpetuated by a lack of open reporting and a lack of coordinated effort amongstakeholders.The media are invited to attend the report's launch, due to start at 9:00am onThursday 8th May at the Army & Navy Club ('The Rag'), 36 Pall Mall, London, SW1Y 5JN.The event will ...
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