The rivalry between the world powers China and the US is no longer restricted to the Pacific. The recent alliances and moves by both nations have shifted their directions towards the Indian Ocean. With India taking a front seat in the battleship holstered by the US, the maritime security of the region is distributed among competing contenders. With India all set to launch its hegemony over the Indian Ocean to counter the growing military and economic powers of China, Pakistan’s role becomes all the more essential to bring peace and stability in the maritime region. The Aman exercise provides Pakistan with the opportunity to establish itself as the guardian of peaceful coexistence in the region.
This article 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.