Piracy costs global economy up to $12 billion

Pirates off Somalia

Governments, United Nations agencies and military forces around the world are being urged to work together to fight piracy which is said to be imposing high costs on the shipping industry.

The call has come from the International Maritime Organization (IMO) which estimates that piracy cost the global economy between $7 and $12 billion a year.

According to the IMO in 2010 alone, more than 4,000 seafarers were attacked by pirates using firearms.

The agency says that over 1,000 of those seafarers were taken hostage and more than 500 used as human shields.

The United Nations marked World Maritime Day on Thursday.

Filed under Today's News.
UN Radio Daily News Programme
UN Radio Daily News Programme
Updated at 1800 GMT, Monday to Friday
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