The Cost of Piracy

The Human Cost of Piracy

June 2012: Human Cost of Somali Piracy 2011. In June 2012, One Earth Future's Oceans Beyond Piracy Project concluded the second of a two-part study on the human cost of maritime piracy. Each year, thousands of seafarers suffer physical abuse and emotional trauma at the hands of Somali pirates and the problem is worsening. This report details the types of experiences faced by captured seafarers and the physical and emotional costs to seafarers, their families, and Somali society. 

Read the 2011 Human Cost of Somali Piracy - Full Report or the two-page summary. For further details, contact Kaija Hurlburt: khurlburt@oneearthfuture.org

The Economic Cost of Piracy

February, 2012: The Economic Cost of Somali Piracy, 2011. Oceans Beyond Piracy, a project of One Earth Future, launched the 2011 Economic Cost of Somali Piracy at a press conference in London on February 8, 2012. In 2011, Somali pirates attacked 237 ships and successfully hijacked 28. Piracy impacts multiple stakeholders, none more so than the seafarers attacked, held hostage, or killed. Oceans Beyond Piracy’s report on the “Economic Cost of Somali Piracy” estimates that piracy cost nearly $7 billion in 2011. The study assesses nine different cost factors, and finds that over 80% of the costs are borne by the shipping industry, while governments account for 20% of the expenditures associated with countering piracy attacks. This project was produced in collaboration with multiple maritime representatives from industry, government, and civil society. For an overview of the report data, download the press release.

January, 2011: The Economic Cost of Maritime Piracy, 2010. One Earth Future's Oceans Beyond Piracy project concluded a large-scale study to quantify the cost of piracy in 2010. Based on our calculations, maritime piracy costs the international economy between $7 to $12 billion USD per year. This report details the major calculations and conclusions made in the study. These findings are also summarized in our Cost of Piracy brochure. 

The Economic Cost of Piracy 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 this persistent crime. For further details, contact Anna Bowden: abowden@oneearthfuture.org