Somali pirates

Piracy off the coast of Somalia has been a threat to international shipping since the second phase of the Somali Civil War in the early 21st century. Since 2005, many international organizations have expressed concern over the rise in acts of piracy. Piracy impeded the delivery of shipments and increased shipping expenses, costing an estimated $6.6 to $6.9 billion a year in global trade in 2011 according to Oceans Beyond Piracy (OBP). According to the German Institute for Economic Research (DIW), a veritable industry of profiteers also arose around the piracy. Insurance companies significantly increased their profits from the pirate attacks, as the firms hiked rate premiums in response.

A United Nations report and several news sources have suggested that the piracy off the coast of Somalia was caused in part by illegal fishing by foreign boats taking advantage of the war, which resulted in lost fishing income to local communities. According to the DIW and the US House Armed Services Committee, the dumping of toxic waste in Somali waters by foreign vessels also severely constrained the ability of local fishermen to earn a living. In response, the fishermen began forming armed groups to stop the foreign ships. They eventually turned to hijacking commercial vessels for ransom as an alternate source of income. In 2009, a survey by WardheerNews found that approximately 70 percent of the local coastal communities at the time "strongly support[ed] the piracy as a form of national defense of the country's territorial waters". The pirates also believed that they were protecting their fishing grounds and exacting justice and compensation for the marine resources stolen. In the absence of an effective national coast guard following the outbreak of the civil war and the subsequent disintegration of the Armed Forces, local fishermen formed organized groups in order to protect their waters. This is reflected in the names adopted by some of the pirate networks, such as the National Volunteer Coast Guard, which are testimony to the pirates' initial motivations. However, as piracy became substantially more lucrative, other reports have speculated that financial gain became the primary motive for the pirates.

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Wikipedia