Many Members of Congress are concerned about the sharp rise in pirate attacks in the strategic
waterways in the Gulf of Aden off the East coast of Africa. The hijacking of a Saudi Arabiaowned
oil tanker, Sirius Star, off the coast of Kenya on November 17, 2008, by pirates was
another in a series of seizures that have focused worldwide attention on economic and
humanitarian threats posed by pirates to the global seafaring community and the smooth flow of
international trade. Given the sharp increase in the number of pirate attacks, the cost of
transporting cargo in international waters could rise dramatically because of the sharp increase in
ocean marine insurance rates for ships transiting the Gulf of Aden. Commercial insurers, for
example, could require a special ?war risk? insurance premium costing an additional ten of
thousands of dollars a day. These additional costs could adversely impact international trade
during the current global economic slowdown.