Modern Maritime Piracy: Countermeasures and Preventive Actions by the Greek Ocean (/deep sea) Shipping Industry

Abstract

The evolution of the maritime Piracy phenomenon constitutes of a top-priority issue for the global maritime community. In this work, the phenomenon of Modern Maritime Piracy as well as the analysis of current countermeasures and deterring strategies of pirate attacks are investigated and their effectiveness rated. More specifically, the work is comprised of the necessary references concerning maritime piracy, a short presentation of the current legal framework governing maritime piracy as well as a reference concerning the insurance cost in High Risk Areas. The main part of this work investigates the Greek Shipping industry’s beliefs and standing point of the most efficient and best available practice/technique towards safe and pirate-free transit. The inquiry was conducted through a special questionnaire which was distributed to Greek ocean (/deep sea) shipping companies.
JEL Classification: Η56
Keywords: Modern Piracy; Hotspots; Countermeasures; Legal Framework; Cost; Greek Shipping Industry.