Black Watch Examines Strategies to Safeguard Commerce from Somali Piracy
Piracy off the coast of East Africa is increasing the risk premium of shipping through these waters and threatening to reduce maritime traffic through the Red Sea. As naval forces try to secure this vital route, what risk mitigation strategies should shipping companies consider? Moreover, what is the current and future financial impact for the private sector and the global economy of Somali piracy?
Washington, D.C. (PRWEB) June 18, 2009 -- Somali pirates off the coast of East Africa are conducting headline grabbing attacks, threatening multiple facets of the global economy and contributing to global inflationary pressures. With 12% of the world's petroleum and 7% of the world's maritime transport passing through the Gulf of Aden and Suez Canal, the impact of Somali piracy on commodities markets and shipping firms is substantial.
As naval forces and maritime transport companies, already beset with declining revenues, struggle to cope with this threat, the political risk consultancy Black Watch Global is convening a web symposium on July 8, 2009 entitled "Piracy: Safeguarding Global Commerce from Somali Piracy." At a time when the global economy remains vulnerable to major risk events, this interactive event will present current research quantifying the impact of Somali piracy on global commerce and corporate strategy. Executives, operations planners, and financial analysts will receive insights on effective risk mitigation strategies as well as potential second and third order effects of current counter-piracy strategies.
The interactive symposium will convene experts from government and industry addressing:
| | - Piracy & Maritime Terrorism: Historical & future trends in maritime threats around the Horn of Africa;
- Extortionists or Militants?: Prospects for increased violence threatening seafarers or damaging maritime assets;
- Impacts on Companies & Markets: Quantifying piracy risks and mitigation strategies in dollars to private companies, local economies, and financial markets;
- Mitigation Strategies: Assessment of available mitigation strategies including armed security and traffic diversion.
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Registration
The symposium will be held on July 8, 2009, at New York 10:00am | London 3:00pm | Dubai 6:00pm | Singapore 10:00pm. Further information and registration is available at www.blackwatchglobal.com/symposiums.htm. The latest conference information, including agenda and speaker updates, is available at the event website. Members of the media are welcome to attend.
About Black Watch Global (www.BlackWatchGlobal.com)
Black Watch advises energy firms, financial institutions, and governments on political and security risks in Africa and South Asia. Leveraging a global network of experts, Black Watch delivers strategic analysis helping clients understand, adapt to, and capitalize on emerging risks to commerce.
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