Maritime Piracy and the Supply Chain

Jon S. Helmick ()
Additional contact information
Jon S. Helmick: United States Merchant Marine Academy

A chapter in Global Supply Chain Security, 2015, pp 17-34 from Springer

Abstract: Abstract The scourge of modern maritime piracy is expensive for the international community, ocean carriers, insurance companies, and other entities that participate in and benefit from global trade. This chapter surveys the nature and scope of modern maritime piracy, summarizes the key impacts and costs of piracy for global supply chain operations, and discusses strategies that can be employed to evade, deter, and mitigate this threat. Implications of piracy and armed robbery for supply chain partners include seafarer abuse, injury, or death; the need for premium crew compensation; the payment of hostage ransoms; elevated insurance premiums; delayed cargo delivery; reduced cargo value; higher fuel costs; security equipment expenses; and the need for embarked security teams. Strategies that can be used to address the threat of piracy that are discussed include the implementation of Best Management Practices; enhanced training, drills, and exercises; naval intervention; the use of transit corridors and group transits; and supply chain reconfiguration.

Keywords: Piracy; Maritime; Security; Supply chain (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-1-4939-2178-2_2

Ordering information: This item can be ordered from
http://www.springer.com/9781493921782

DOI: 10.1007/978-1-4939-2178-2_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().