Page 29: of Maritime Logistics Professional Magazine (Q2 2014)
Maritime Risk & Shipping Finance
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prices of African exports –oil, gas and commodities. Drum
Cussac Nigeria says that it is now seeing the same level of demand for its risk advisory services in West African coun- tries as the Drum Cussac Group saw off East Africa. Amidst reports from the International Maritime Bureau (IMB) of the lowest fi rst quarter piracy fi gures since 2007, this is not the time to let up. IMB also warns that there is “no room for com- placency” and “that the threat is still present.”
The root causes, if not the organization, of piracy are the same in East and West Africa: that is economic deprivation, a lack of rule of law, environmental pollution and a widespread failure to tackle social issues. IMB continues to call for the continued, essential role of the international navies in contain- ing the threat of Somali piracy, despite the drop in attacks.
Nevertheless, local efforts – aided by fi rms such as Drum
Cussac – remain just as important to the fi nal goal. That said; the EU and United States may be pushing African leaders to tackle these root causes, but on a continent where three people out of four still live in abject poverty, quick fi xes remain as distant a dream as that of Nelson Mandela.
MARITIME SECURITY
Hyperspike training - DC consultants and Malagasy Naval Ratings and Of- fi cers on the Geo Arctic, preparing to repel pirates with sound deterrents.
The African countries most affected by piracy, including Angola, Benin, Cameroon, Ivory
Coast, Equatorial Guinea, Gabon, Ghana, Nigeria, Congo, Sao Tome and Principe, and
Togo sent their ships to participate in scenarios aimed at enhancing counter-piracy tactical expertise. That’s because all West African countries have felt the economic impact of the pirate activity. For instance in Benin, trade through the main port of
Cotonou has dropped by 70 percent in just the past year alone. www.maritimeprofessional.com | Maritime Professional | 29 18-33 Q2 MP2014.indd 29 5/19/2014 9:26:28 AM