A Scottish company has launched on to the global shipping market the first comprehensive software product designed to combat the increasing problem of modern-day piracy at sea.

Marine MTS, based in Aberdeen, has developed Sentinel, which for the first time enables ships to be precision-tracked from anywhere in the world using technology called Loc8.

The cost of piracy in 2011 was estimated last year at £4.5 billion, including increased security spend and ransom payments, and this year there has already been around 150 incidents of maritime piracy recorded globally.

Sentinel will have "additional covert capabilities that will not be advertised to ensure users have the edge in their battle against piracy", and all buyers will be "vetted to ensure the technology stays on the 'right side'", the company says.

Marine MTS managing director Wynne Edwards said: "It's hard to believe that current software on the market doesn't track all the factors that might put a ship at risk, but that's the case....

"Until now, the answer to anti-piracy has involved increasing armed presence on board vessels, but this can escalate the problem in the long term.

"Increased vigilance via technology is a proactive approach that can become a long-term option."