According to reports, Insurers in the City of London are finalising plans to set up a fleet of armed patrol boats in the Gulf of Aden.

The Convoy
Escort Programme (CEP) will provide protection for ships and reduce the high
costs of insuring vessels, cargo and crews against pirates.

Reports say that representatives of the shipping industry have
agreed to explore the idea further. It is understood that the industry-led project is being monitored by international navies. A not for profit association
involving private and public sector members would be set up, and would
control a fleet of 18 vessels, each with a fixed gun position and an
armed crew authorised to engage the pirates in battle.

Although it would be managed separately, the fleet would
be under the operational control of the relevant national navy and the
crew would have to conform to international rules on combat and
engagement.