Map of areas under threat by Somali pirates (2005–2010).
| [show] Piracy off the coast of Somalia |
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Piracy off the coast of Somalia has been a threat to
international shipping since the
second phase of the
Somali Civil Warin the early 21st century.
[1] Since 2005, many international organizations have expressed concern over the rise in acts of
piracy.
[2][3] Piracy impeded the delivery of shipments and increased shipping expenses, costing an estimated $6.6 to $6.9 billion a year in global trade in 2011 according to Oceans Beyond Piracy (OBP).
[4] According to the
German Institute for Economic Research (DIW), a veritable industry of profiteers also arose around the piracy.
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