Somali Pirates Hijack 3 Oil Tankers as Hormuz Closure Diverts Ships and Navies
Updated
Updated · OilPrice.com · Aug 15
Somali Pirates Hijack 3 Oil Tankers as Hormuz Closure Diverts Ships and Navies
3 articles · Updated · OilPrice.com · Aug 15
Summary
Three tankers — MT Honour 25, MT Eureka and MT Asana — were seized between April and July in the Gulf of Aden and off Puntland, marking Somali pirates’ biggest attacks in years.
Hundreds of ships rerouted around Africa after the Strait of Hormuz effectively closed, while U.S. and allied naval assets shifted toward the Iran war, leaving wider gaps for pirate operations.
UN-linked reporting says the threat has grown more organized: Houthi militants have supplied Somali cells with weapons, training and GPS tracking, and al-Shabaab takes up to 30% of ransom payouts for coastal support.
Ransom demands have already reached $10 million for Eureka and $3 million for Honour 25, after a $1.2 million-$1.5 million payout for a Chinese fishing vessel in March reportedly helped spur the latest wave.
Shipping costs are rising alongside the security risk: war-risk premiums in Hormuz and the Gulf jumped more than 1,000% to as high as 7.5%-10% per voyage, and African diversion routes are no longer seen as safer alternatives.