The private maritime security industry has to some extent been a victim of its own success. Anti-piracy measures have been very effective, especially off the Horn of Africa and in the Indian Ocean, resulting in smaller security firms going out of business.
In a press release announcing the liquidation, SAMI said that its fee-paying membership had fallen as the industry had consolidated, rendering the organisation financially unsustainable.
“The worst thing that people can do is become complacent about the threat (of piracy),” said Peter Cook, an ex-Marine who founded and ran SAMI. “I think there is still a threat of piracy reappearing off the coast of Africa - and the most likely thing that will make that happen is if people drop their guard.”