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Piracy and global economy

According to the International Maritime Bureau (IMB), incidents of piracy have risen almost two-fold — from 239 in 2006 to 445 in 2010, and a major share of these have taken place on Somalian waters.

Updated on: Jul 02, 2011 11:15 PM IST
Hindustan Times | By
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According to the International Maritime Bureau (IMB), incidents of piracy have risen almost two-fold — from 239 in 2006 to 445 in 2010, and a major share of these have taken place on Somalian waters.

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HT Image

There has been a three-fold increase trade in the last three decades — more than a lakh ships sail around the world, registered in 150 countries. Technology has enabled even huge ships to operate with a handful of crew — nearly 14 lakh seafarers as of now, mostly from third-world countries, making all of it a fairly low-cost affair.

Bulk of the trade is concentrated in the certain hubs, one such being Gulf of Aden, where goods from West Asia China, south and south-east Asia are transported to Europe via Suez canal.

The Gulf of Aden is also the hub of Somalian piracy, that started around 2006 as an attempt by the local fishermen to repulse foreign trawlers, primarily from South East Asia and Middle East, from fishing illegally in the Somalian waters, explains Rohit Negi, assistant professor at the Ambedkar University, Delhi. He traces the rise of Somalian piracy in the context of the country's unstable political situation. Since 1991, Somalia has had no central government. It is divided into the sovereign but unrecognised state of Somaliland, the self governing region of Puntland and is controlled by the Islamist group Al Shabaab in the southern region. It is also embroiled in a long standing conflict with Ethiopia that has supported various warlord factions in Somalia.

 
ABOUT THE AUTHOR
Namita Kohli

Namita Kohli was part of Hindustan Times’ nationwide network of correspondents that brings news, analysis and information to its readers. She no longer works with the Hindustan Times.

Follow India news real-time updates and the latest news covered on Hindustan Times, featuring today's critical updates on Sonam Wangchuk Hunger Strike LIVE and more across India.
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