The cost of Somali piracy to the global economy has declined by 12.5 percent since 2011 as attacks fell sharply, a survey showed, but the cost of armed guards to protect ships soared. The annual report by the Oceans Beyond Piracy advocacy group estimated the cost of piracy at $5.7bn to 6.1bn in 2012.
Operation Atalanta, NATO and Combined Task Force 151 have called upon the shipping industry to continue to take anti-piracy measures despite the current downward trend in piracy events.
