I was all set to write a doom and gloom report on ocean freight for my first Global Dashboard post. After all, fuel is getting more expensive, and piracy is getting worse. This can’t bode well for the industry that transports at least 90% of the world’s stuff.
But then I actually started reading the 2008 International Maritime Bureau report on piracy. The report contains the definitive compilation of raw piracy data. It contains annual statistics on all reported incidents of piracy, as well as brief narrative descriptions of each attack. (The report is not available online; you have to email and ask for it. Another excellent source of piracy information is the Maritime Security Center.)
It turns out piracy is not actually getting worse. Continue reading