Piracy on the rise off Somalia sparks concerns about regional instability

Four vessels have been hijacked off the coast of Somalia in recent weeks, sparking concerns about a potential resurgence of piracy in the area. According to reports, at least three vessels were targeted this week alone, with analysts warning that the situation may be repeating itself.

The World Bank has previously estimated that piracy off Somalia can have an annual impact of up to $18 billion on the global economy. While intermittent hijackings have continued since the early 2000s, recent incidents have raised alarm bells.

The United Kingdom Maritime Trade Operations (UKMTO) has increased its threat level assessment for vessels transiting the Somalia coast to “substantial”, warning them to exercise caution. The European Union Naval Force (EUNAVFOR) has been monitoring the situation and has reported several hijackings in recent days, including the seizure of a tanker carrying approximately 18,000 barrels of oil.

The tanker, Honour 25, was reportedly anchored off the coast of Puntland with five additional pirates on board. The ship had initially sailed to the United Arab Emirates but turned back towards Mogadishu after being intercepted by pirate groups. All crew members were later released, but the “Pirate Action Group” remained on board.

In addition to Honour 25, two other vessels have been hijacked in recent days: Alkhary 2 and Sward. The Sward was reportedly hijacked 6 nautical miles northeast of Garacad, with a crew of 15 people from India and Syria on board. A vessel carrying cement and flying the flag of St Kitts and Nevis was also hijacked off the coast of Garacad.

Analysts suggest that the diversion of antipiracy patrols to other regions may have created an opportunity for pirate groups to operate with relative impunity. The surge in petrol prices has also made fuel tankers more valuable to pirates, experts say.

Source: Al Jazeera