Piracy presntation mick hanley

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  • Welcome to the Armatus Risks company presentation.
  • Piracy presntation mick hanley

    1. 1. PIRACY
    2. 2. PIRACY THE REALITY
    3. 3. DEFINITIONDefinition:An act of boarding or attempting to board anyship with the intent to commit theft or anyother crime and with the intent or capability touse force in the furtherance of that act.”
    4. 4. FACTS & FIGURES 2011• 439 REPORTED PIRACYS ATTACKS• 275 OFF SOMALIA & GULF OF GUINEA• 802 CREW MEMBERS TAKEN HOSTAGE• 8 CREW MEMBERS ACTUALLY KILLED
    5. 5. 2011 PIRACY ATTACKS
    6. 6. 28TH FEBRUARY 2012• 62 ATTACKS WORLDWIDE• 6 VESSELS HIJACKED• 12 VESSELS HELD WITH• 177 HOSTAGES
    7. 7. ATTACKS SE ASIA/INDIAN SUB CONTINENT10 – ATTACKS REPORTED IN BANGLEDESH46 – ATTACKS IN INDONESIA WITH 41 VESSELS BOARDED13 – ATTACKS IN THE SOUTH CHINA SEA
    8. 8. INDIA ITSELF• 13 LARGEST IMPORTER IN THE WORLD• 90% OF ITS TOTAL TRADE BY VOLUME &• 70% BY VALUE TRANSPORTED BY SEA• US $ 110 BILLION OF INDIAN TRADE TRANSITING THROUGH THE GULF OF ADEN
    9. 9. THE COST INTERNATIONAL COMMUNITY• IN 2010- 2011 – USD $ 4.9 – 8.3 BILLION• Rising to• USD $ 13 – 15 BILLION BY 2015
    10. 10. SOLUTIONS• COAST GUARD/NAVY PATROLS• RISK ASSESSMENTS – SHIP OWNERS/MASTERS• SHIP SECURITY PLANS• RELEVANT & SUITABLE TRAINING• VESSELS HARDENING EQUIPMENT• PRIVATE SECURITY PROVIDING EXPERIENCED & QUALIFIED VESSEL PROTECTION TEAMS
    11. 11. SUMMARYPirates would appear to be the very essence of rationalprofit maximizing entrepreneurs described in neoclassical economics:Expected profits determine decisions based oninformation available. The supply of pirates, therefore,is closely related to the expected benefits of being apirate and the associated risk adjusted costs. We ignore them at our peril!!!!!!

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