Economy - overview:
The Indian Ocean provides major sea routes connecting the Middle East, Africa, and East Asia with Europe and the Americas. It carries a particularly heavy traffic of petroleum and petroleum products from the oilfields of the Persian Gulf and Indonesia. Its fish are of great and growing importance to the bordering countries for domestic consumption and export. Fishing fleets from Russia, Japan, South Korea, and Taiwan also exploit the Indian Ocean, mainly for shrimp and tuna. Large reserves of hydrocarbons are being tapped in the offshore areas of Saudi Arabia, Iran, India, and western Australia. An estimated 40% of the world's offshore oil production comes from the Indian Ocean. Beach sands rich in heavy minerals and offshore placer deposits are actively exploited by bordering countries, particularly India, South Africa, Indonesia, Sri Lanka, and Thailand.
Transportation ::Indian Ocean
Ports and terminals:
Chennai (Madras; India), Colombo (Sri Lanka), Durban (South Africa),
Jakarta (Indonesia), Kolkata (Calcutta; India) Melbourne
(Australia), Mumbai (Bombay; India), Richards Bay (South Africa)
Transportation - note:
the International Maritime Bureau reports the territorial waters of littoral states and offshore waters as high risk for piracy and armed robbery against ships, particularly in the Gulf of Aden, along the east coast of Africa, the Bay of Bengal, and the Strait of Malacca; numerous vessels, including commercial shipping and pleasure craft, have been attacked and hijacked both at anchor and while underway; hijacked vessels are often disguised and cargoes stolen; crew and passengers are often held for ransom, murdered, or cast adrift; the presence of several naval task forces in the Gulf of Aden and additional anti-piracy measures on the part of ship operators have reduced the piracy incidents; in response local pirates shifted operations farther south along the east coast of Somalia and eastward along the coast of Oman
Transnational Issues ::Indian Ocean
Disputes - international:
some maritime disputes (see littoral states)