Somali piracy - total cost by factor 2011

Total cost of Somali piracy in 2011, by factor (in million U.S. dollars)

Somali piracy - total cost by factor 2011 This statistic represents the total cost of Somali piracy in 2011. About 635 million U.S. dollars was spent on insurance payments that year. Piracy is defined as an act of criminal violence or robbery at sea.
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Total cost of Somali piracy in 2011, by factor (in million U.S. dollars)

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Cost in million U.S. dollars
Increased speed2,710
Military operations1,270
Security equipment
and guards*
1,064
Insurance635
Re-routing*486
Labor195
Ransoms160
Counter piracy
organizations
21.3
Prosecutions and
imprisonment
16.4
Total economic
cost of Somali piracy*
6,600
Cost in million U.S. dollars
Increased speed2,710
Military operations1,270
Security equipment
and guards*
1,064
Insurance635
Re-routing*486
Labor195
Ransoms160
Counter piracy
organizations
21.3
Prosecutions and
imprisonment
16.4
Total economic
cost of Somali piracy*
6,600
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Description

Source

More information

This statistic represents the total cost of Somali piracy in 2011. About 635 million U.S. dollars was spent on insurance payments that year. Piracy is defined as an act of criminal violence or robbery at sea.
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Release date
2013
Region
Africa
Survey time period
2011
Supplementary notes
* The source does not provide definite figures: Security equipment and guards: 1.064 - 1.16 billion U.S. dollars; re-routing: 468 millio - 681 billion U.S. dollars; total economic cost of Somali piracy 2011: 6.6 to 6.9 billion U.S. dollars.
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