A Private Navy

Jan 25 2013 @ 5:11pm

Ackerman profiles Anthony Sharp, whose new private security firm Typhon will take to the seas to defend commercial tankers from pirates. It’s a tough market:

[H]e might be too late. Without much notice, piracy actually declined in 2012, bringing down the high insurance rates that send shipping companies running for armed protection. Meanwhile, the market for such security is being filled by companies that station armed guards aboard commercial ships to deter or combat pirates. That practice, known as “embarked security,” follows years of security firms, including Blackwater itself, trying and mostly failing at amassing fleets to escort commercial ships — Typhon’s model.