GICA RESOURCE LIBRARY
Maritime Piracy (Part I): An Overview of Trends, Costs and Trade-related Implications - Studies in Transport Law and Policy – 2014 (No.1)
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Piracy threatens the safety of navigation, and has broader implications for transport and trade across interconnected supply chains, as well as for energy and food security. Above all, piracy is associated with considerable human costs, as seafarers are the first to be affected by piracy attacks. Piracy disrupts transport and trade flows, as well as other economic activities such as fisheries and energy production, thus potentially jeopardizing the development prospects of both coastal and landlocked economies in affected regions.