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Maritime transportation security can be violated by piracy and terrorist attacks along with a wide variety of threats which may interrupt the free flow of goods through sea lanes of communication. Any disruption of this flow due to threats which may be encountered in international and territorial waters can adversely affect global economy. This paper aims to review the security challenges faced by maritime industry involving risks emanating through marine environment, threats to sustainable maritime economics, mutual international efforts to preserve stability, security in maritime areas of interest to maintain the flow of commodities throughout the World and conventional maritime security risks as well as the potential economic benefits of the Arctic Region occurring from increasingly diminishing of the sea ice. Considering recent developments in the Arctic and the new security concerns, emerging security strategies in the Arctic Region with a view to its effects on Maritime Economics is emphasized.

A Study on the Classification of Maritime Security Threat Topics