▁trade ▁in ▁the ▁area . ▁Typ ical ▁pir ate ▁boot y ▁is ▁limited ▁to ▁ship ' s ▁stores , ▁engine ▁parts , ▁and ▁crew ▁members ' ▁c ash ▁and ▁personal ▁property . ▁Pi racy ▁also ▁has ▁indirect ▁costs , ▁including ▁increased ▁security ▁measures ▁and ▁sp ikes ▁in ▁sh ipping ▁ins urance ▁prem iums . ▁ ▁For ▁instance , ▁Lloyd ' s ▁of ▁London ▁declared ▁the ▁stra it ▁a ▁high ▁war - ris k ▁area ▁for ▁ins urance ▁purposes , ▁unders cor ing ▁the ▁Stra it ▁of ▁Mal ac ca ' s ▁out law ▁reputation ▁in ▁recent ▁years . ▁The ▁action ▁added ▁a ▁prem ium ▁of ▁ 1 % ▁of ▁cargo ▁value , ▁" inf uri ating ▁sh ipping ▁lines ", ▁according ▁to ▁news ▁reports . ▁ ▁The ▁declaration ▁of ▁the ▁sea ▁l ane ▁as ▁a ▁high ▁war - ris k ▁area ▁referenced ▁the ▁water way ' s ▁" war , ▁strik es , ▁terror ism , ▁and ▁related ▁per ils ". ▁Company ▁officials , ▁however , ▁lifted ▁the ▁advis ory ▁in ▁ 2 0 0 6 , ▁after ▁Singapore ▁and ▁Indones ia ▁launched ▁their ▁sea ▁and ▁air ▁pat rol s . ▁ ▁Pir ate ▁attacks ▁have ▁not ▁stopped ▁the ▁ 5 0 , 0 0 0   ships ▁that ▁ann ually ▁trans it ▁the ▁narrow ▁passage . ▁Fort y ▁percent ▁of ▁the ▁world ' s ▁trade ▁passes ▁through ▁it ▁and ▁it ▁has ▁become ▁the ▁most ▁important ▁route ▁of ▁transport ▁for ▁oil ▁from ▁the ▁Middle ▁East ▁to ▁mark ets ▁in ▁East ▁Asia . ▁