DEFENSE
Private maritime security services guard floating trade
Contracted patrols and escorts protect floating economy global shipping lanes.
Image by MaseLaw
As piracy, smuggling, and geopolitical tensions increase, shipping companies rely on private maritime security firms to safeguard vessels and crews. For The Floating Economy, these services are essential to protect floating infrastructure, offshore platforms, and high-value cargo.
Rise of Piracy in the Gulf of Guinea: The Gulf of Guinea remains a hotspot for kidnappings and piracy despite international naval patrols, driving demand for private armed guards.
Industry Oversight and Best Practices: The International Code of Conduct Association (ICoCA) oversees private security companies, including maritime contractors, to ensure compliance with international standards.
Private Security Contractors on Ships. The International Maritime Organization acknowledges the use of Privately Contracted Armed Security Personnel (PCASP) on board merchant vessels in high-risk areas.
Maran Tankers & Guards Deployment: Greek shipping company Maran Tankers has employed private armed guards on its vessels transiting through piracy-prone regions.
Private maritime security services are not just a response to piracy. They are becoming a permanent layer of protection in The Floating Economy, ensuring safety across offshore energy sites, data cables, and floating trade routes.
—TFI
The Floating Institute is all about advancing knowledge of the global floating economy.