(Ecofin Agency) – After years of significant insecurity in the waters off Somalia and the Gulf of Guinea, maritime navigation toward African ports in these regions is beginning to show promising prospects once more, attracting interest from international shipowners and cargo carriers.
Traditionally known as piracy hotspots in Africa, the Gulf of Guinea and Somalia recorded only 12 and 8 incidents, respectively, in the first three quarters of 2024, according to the International Maritime Bureau (IMB). This marks the lowest level of insecurity in 30 years, primarily due to actions taken by various countries to strengthen their coastal security.
Nigeria, a major base for pirates in the Gulf of Guinea, has notably enhanced its navy’s capabilities through the « Deep Blue » program for patrolling, response, and security, which includes acquiring advanced military equipment and training soldiers for such operations.
The rise in piracy attacks had previously diverted many maritime companies from ports in these regions, with those continuing their services imposing higher freight rates and insurance companies raising premiums due to increased risk.
The latest statistics are likely to reassure the industry, reducing risk factors that might otherwise drive up freight rates amid global supply chain pressures from other issues like tensions in the Red Sea and the ongoing Russia-Ukraine conflict.
Globally, 79 incidents were reported from January to September 2024, down by 20 from the first nine months of 2023. « Sixty-two ships were boarded worldwide, six were hijacked, two were fired upon, and nine were targeted in attempted attacks. In 86% of the reported cases, entry onto vessels occurred under the cover of darkness. Violence against crew members remains a serious concern, with 111 people taken hostage, 11 kidnapped, and 3 threatened. In 45 reported cases, perpetrators were armed with rifles and knives, » according to details provided by the IMB.
Source: agenceecofin
