Convoy Escort Programme Ltd. will be deploying its private navy — of seven former naval patrol boats, each with eight armed men aboard — to the Gulf of Aden within the next five months:
The bullet-proofed boats will charge about $30,000 per ship traveling in a convoy of around four vessels over three to four days, he said.
“We are going to be a deterrent,” Campbell said. “We are not in the business of looking for trouble but if anybody tries to attack a vessel we are escorting, our security teams will deploy force if they have to act in self defence.”
Attacks reached a record this year and cost the global economy an estimated $7 billion to $12 billion annually, according to the United Nations’ International Maritime Organization. About 23,000 vessels carrying $1 trillion of trade pass through the Gulf of Aden every year, the U.K. government estimates.
About 25 percent of vessels that sail in the Gulf of Aden and Indian Ocean use armed guards, and their owners pay $120 million a year to London insurers for protection against the risks of pirate hijacks, Andrew Voke, chairman of the Lloyd’s Market Association marine committee, told a U.K. parliamentary hearing in June.
There is a shortage of naval assets protecting ships from piracy, said Campbell, whose company is looking for investors to complete the boat purchases. The convoys will police the same 490 nautical-mile long stretch of water within the Gulf of Aden, known as Internationally Recognized Transit Corridor, as the world’s state-backed navies.
I would only employ a naval escort service if they sailed under the Russian flag…