Money and Ships conference to review current situation after global attacks hit all-time high of 266 for the first half of 2011- problem costs industry up to $16 billion annually. Global attacks on ships rose to an all-time high of 266, during the first six months of 2011 up from 196 in 2010 according to the International Maritime Bureau (IMB). More than 117 ships were attacked and 20 seized, by pirates off the coast of Somalia alone since January 1, 2011, holding 28 ships and 518 hostages for ransom as of the end of April 2011. These issues are to be raised and reviewed by industry experts at Middle East Money and Ships conference, which takes place at the Address Hotel in Dubai Marina on 16 October 2011.