Rising ETS Costs Threaten Asia-Europe Ships Amid Red Sea Hotspot
Somali pirates, dormant for nearly a decade, have resurged, targeting ships in the western Indian Ocean and taking advantage of a security vacuum left by Houthi strikes. The recent raids are increasing costs for shippers, with insurance premiums and armed security guard prices rising. While the threat is not as serious as it was in 2008-2014, concerns are growing that the problem could escalate. The Indian Navy recently intercepted and freed a hijacked ship, and experts emphasize the need to bolster Somalia's law enforcement capacity at sea and on land to contain the piracy threat.