International conference on maritime piracy kicks off in Dubai
An international conference to tackle the issues pertaining to maritime piracy and the ways to counter them starts in Dubai. A high level Indian delegation is taking part in the conference to convey the Indian perspective at the rear of a large number of Indian hostages held in captivity by the Somali Pirates.
According to the International Maritime Bureau report, maritime piracy is over $7 to $12 billion industry run by the ransom seeking Somali Pirates off the coast of Oman, Gulf of Eden and the Indian Ocean. Although the number of hostages taken by pirates declined to 555 in 2011 from 645 in 2010, the attacks and hijackings still happen.