Research in Transportation Economics
This paper critically reviews four international legal instruments in addressing piracy and maritime terrorism – UNCLOS, SUA, PSI and the ISPS Code. Piracy on high seas is currently becoming key tactics of terrorist groups – many of today’s pirates are also terrorists with ideological bents and a broad political agenda. The intertwining of piracy and maritime terrorism poses substantial risks for global markets, understanding that much of the world’s energy and cargoes being shipped through pirate-infested regions like Southeast Asia. Through investigating the contributions and limitations of the stated instruments, several constructive recommendations are offered to improve their effectiveness in controlling and deterring piracy and maritime terrorism from threatening the well-being of the maritime industries in the post-2008 world.