The Jack Sparrow Revolution

In 2003, the first severe attack of modern piracy occurred. Since then there has been a dramatic increase in piracy, especially off the Somali coast, around the Gulf of Aden, the Suez Canal and the Indian Ocean. This thesis investigates the on-going problem through an international business perspective with focus on the shipping industry. The Suez Canal is one of the worlds¿ most vital trafficked gateways for the world economy, international trade, and most importantly the international business between countries and companies. Approximately 95 percent in volume of the EU member states trade and 20 percent of the world trade passes through the Gulf of Aden each year. It is not a matter of the problems existence, rather a concern of which parties it will affect and the consequences that piracy produces. ¿Now they are everywhere, now it is not only an African problem. The Simple reason is: it is profitable¿ - Paddy O¿Kennedy (2011)