SAMI goes into liquidation after membership halves

The Security Association for the Maritime Industry (SAMI) says it has become a victim of its own success and has gone into voluntary liquidation in the UK due to a fall in membership.

Piracy off the coast of Somali and the Horn of Africa has fallen dramatically since the organisation was founded in April 2011, thanks largely to the carriage of armed guards onboard commercial vessels, as well as coordinated efforts from national navies. This has caused SAMI’s private maritime security company (PMSC) membership to more than halve from its peak of 180 members.

“There has not been a successful hijacking of a commercial vessel in the High Risk Area since May 2012 and this is principally due to the increasing competence and professionalism of the private maritime security industry. This is the task SAMI set out to achieve and we have done it,” Peter Cook, CEO of SAMI, said in a release.

Since being established, SAMI has worked to establish a regulatory structure for the use of armed guards onboard ships in pirate-infested waters, and has represented its members widely around the world.

“There is no doubt that SAMI made a positive contribution to the private maritime security industry by helping to establish improved regulation and, in doing so, improved how the industry was perceived. Its pioneering work on floating armouries will be an enduring legacy,” Neil Roberts, manager of marine and aviation at Lloyd’s Market Association (LMA), said.