Maritime piracy was once thought to be a thing of a bygone age. Unfortunately it has resurfaced in recent years and poses a serious threat to both crew and property on the high seas. For countries like Tanzania, it also poses a serious threat to existing and potential future investments.
During a conference entitled "Global Challenge, Regional Responses: Forging a Common Approach to Maritime Piracy," held in Dubai on April 18-19, last year, a few revelations emerged. One is the fact that, globally, attacks have increased from 239 in 2006 to 445 in 2010, with 1,181 seafarers taken hostage in the previous year alone. Secondly is the fact that the total annual economic cost is estimated at between seven to 12 billion US dollars.
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