Over the years, global maritime piracy interest has changed and is involved in different areas of the shipping industry. Although the rise of 2023 evidenced by the crime division of the ICC (International Chamber of Commerce) and the media impact linked to the Houthis may suggest an increase in piracy, the data recorded in 2024 give hope for a new reversal trend. Ocean piracy incidents dropped from 65 in the first half of 2023 to just over 60 for the same period of 2024. Although the International Maritime Bureau (IMB) has witnessed a significant decrease in piracy incidents overall, crews continue to be in danger and international trade continues to be affected. Nevertheless, areas such as the Gulf of Aden and off the coast of Somalia remain danger zones with a persistent threat from hijacking to robbery, up to sinking. The comparison with H1 of past years is worrying; this increase is caused mainly by the geopolitical impacts of the Israeli-Palestinian conflict naturally and in the second instance by political instability and lingering poverty.
At the same time, as encouraging as the drop in piracy rates is, it remains a very localized trend. IMB reports that although there have been areas with overall lower volumes of piracy activity, this has unfortunately not translated to a safer environment within other hotspots as highlighted above.
On the other hand, in two of the worst piracy zones, the latest data showed a positive trend with a noticeable decrease in reported incidents; they dropped from 14 to 10 in the Gulf of Guinea and from 20 to 13 in Malacca and Singapore Straits. Meanwhile, low-level happenings have increased in Bangladesh, up from one in the first six months of 2023 to ten in 2024. This is the highest reported number of incidents in the first half of a year since 2015. All vessels were at anchorage with eight incidents reported only at Chattogram. Another area of interest for piracy is the Americas, where in 2023 a huge increase from 12 of the previous year to 19 incidents was reported, mainly at Callao anchorage in Peru. It is worth underlining that no incidents were recorded in the Americas region during Q1 of 2024, compared to seven in the same period in 2023.
The threat of piracy has prompted various actions involving the maritime industry. Various mitigation measures have been employed by shipping companies, such as the re-routing away from high-risk areas and increasing security on board including armed guards. Secondly, a key point was also the role of technological advancements such as real-time monitoring systems and improved communication channels that are helping to prevent piracy. Yet they come with a hefty price tag for the industry — impacting shipping routes, insurance premiums, and operational expenses.
IMB reiterates the need for a continued and robust regional and international naval presence to respond to these incidents and safeguard life at sea; the shipping industry’s ability to adapt to these evolving challenges will be crucial in safeguarding the lives of seafarers and maintaining the integrity of global trade networks.
