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The Economist explains: Why Somali piracy is staging a comeback | The Economist

The Economist explains: Why Somali piracy is staging a comeback | The Economist

BETWEEN 2008 and 2011, the waters off the coast of Somalia were the most treacherous shipping lanes in the world. More than 700 attacks on vessels took place in this period. In early 2011, 758 seafarers were being held hostage by pirates. Hijackings cost the shipping industry and governments as much as $7bn in 2012. But then, quite suddenly, the banditry stopped. The last hijacking of a merchant vessel occurred in May 2012. Until now. There have been five confirmed incidents of piracy on the Gulf of Aden in the past month, beginning with the kidnapping of a Sri Lankan crew…

Source: The Economist explains: Why Somali piracy is staging a comeback | The Economist