Get all your news in one place.
100's of premium titles.
One app.
Start reading
Fortune
Fortune
Business
Joshua Hong

‘This is obviously a very, very lucrative business for them’: Somali pirates are back—the Iran war is keeping the US too busy to stop them

An armed Somali pirate along the coastline while the Greek cargo ship, MV Filitsa, is seen anchored just off the shores of Hobyo town in northeastern Somalia where its being held by pirates. (Credit: Photo by MOHAMED DAHIR/AFP via Getty Images)

Somali pirates are taking advantage of a maritime security vacuum created by the war with Iran, according to a Politico report that found a resurgence in attacks on commercial ships as international naval resources have been pulled toward the Middle East. The development comes as the global shipping industry contends with attacks around the Strait of Hormuz and the Bab el-Mandeb Strait, higher energy prices, and sharply reduced traffic through some of the world’s most important maritime chokepoints.

As of August 22, six commercial vessels have been seized since April across the Gulf of Aden and the western Indian Ocean. That is up from Politico’s report that Somali pirates had seized at least three tankers carrying oil and fertilizer since April, while a chemical-carrying ship was hijacked off Yemen in July. The latest attacks have occurred as the United States and other countries have concentrated naval forces around the Persian Gulf, the Strait of Hormuz and the Red Sea.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.