Somali pirates sow fear again as the world slips toward chaos PHOTO/VIDEO

Pirate attacks in the Red Sea and Gulf of Aden had almost completely subsided after peaking around 2010, largely thanks to U.S. Navy patrols and an international coalition.

However, as the war with Iran consumes U.S. military resources and fuels regional instability, conditions have emerged that could facilitate the return of Somali pirates, Index.hr reports.

On August 17, eight armed men intercepted and hijacked the cargo ship Lutuf approximately four nautical miles off the Somali coast. The UK Maritime Trade Operations (UKMTO) classified the incident as a hijacking, while EU naval forces are monitoring the situation. 

A month earlier, an armed group in the Gulf of Aden hijacked the tanker MT Asana, which was sailing under the Tanzanian flag and carrying oil and chemicals. The tanker was subsequently taken toward Somalia’s Puntland region. Reuters confirmed that the vessel was seized in July and later held off Puntland.

Dramatic increase in risk for shipping companies

For local Somali gangs—in a country currently facing severe drought, chronic hunger and declining international aid—the profits from kidnappings have become increasingly attractive.

For shipping companies, meanwhile, this has created major new challenges as they simultaneously try to avoid Houthi attacks, face soaring insurance premiums and question whether sailing through the region remains economically viable.

Recent reporting indicates that the resurgence of Somali piracy has coincided with increased maritime traffic and reduced availability of international naval resources. 

“That would mean Houthi technology, including guided missiles, drones and all their equipment, falling into the hands of Somali pirates. At that point, maritime risks would increase to unprecedented levels,” Ranslem added.

The Global Initiative Against Transnational Organized Crime, which has been monitoring this year’s wave of hijackings, said in a report that pirates demanded as much as $10 million in ransom for the release of the Eureka, which was hijacked on May 2.

The Chinese fishing vessel Liao Dong Yu 578, hijacked in January, was released in March after a ransom of between $1.2 million and $1.5 million was reportedly paid.

Tankers carrying valuable oil have become prime targets

Meanwhile, as oil prices surge on global markets, the value of cargo aboard tankers travelling these routes is also increasing.

Pirates therefore find themselves in a position to hold shipments worth tens of millions of dollars at gunpoint, notes Matt Reasner, a senior national security adviser at the Center for Maritime Strategy.

“Houthi attacks in the Red Sea have forced ships to sail closer to the Somali coast, right alongside known piracy hotspots. With oil and gas prices this high, these tankers have become incredibly valuable—but also extremely vulnerable—targets,” Reasner explained.

Recent hijackings appear to confirm this trend: of the four commercial vessels seized by Somali pirates between April and May, three were tankers carrying petroleum products.

“Everyone in the maritime sector now has to assess their actual risk of sailing through these waters on a daily basis,” Ralby concluded.