The threat of piracy on maritime transportation
by Matt Elbeck, Ercan Tirtiroglu
International Journal of Society Systems Science (IJSSS), Vol. 2, No. 2, 2010

Abstract: Recent acts of piracy in and about the Gulf of Aden undermine the safe passage of crude oil critical to global economies, serving as a force majeure for logistics service providers and supply chain managers to address this menace. In contrast to the raft of diplomatic and military responses to date, this note considers hitherto unexplored approaches to bypass threats of maritime piracy by considering a transportation triumvirate of cost efficiency, intact delivery of cargo and human safety. A review of the literature is followed with an outline of the costs associated with maritime piracy on vessel and crew and concludes with methods to approach the maritime piracy problem based on risk and game theory to consider alternative routes, offering vessel, crew and cargo safety and delivery security guarantees as a result of balancing financial returns against least adverse effects by focusing on delivery assurance in lieu of delivery costs.

Online publication date: Wed, 07-Apr-2010

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Society Systems Science (IJSSS):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com