"The annual impact of piracy off Somalia on the global economy was as high as $18bn during the height of the crisis, highlighting the significant economic repercussions of maritime crime."
"The quick succession of tankers seized in recent weeks has further raised concerns, prompting the UKMTO to raise threat levels around the Somalia coast to substantial."
"Three to four merchant ships are believed to have been captured close to the coast of Somalia since April 20, indicating a troubling resurgence in piracy activities."
At least four vessels have been hijacked recently off Somalia, raising concerns of a piracy resurgence. The area was notorious for piracy in the early 2000s, with significant economic impacts. The World Bank estimated piracy's annual cost to the global economy at $18 billion during the crisis. The UKMTO has increased threat levels to substantial, advising caution for vessels. Recent incidents include the hijacking of the fishing vessel Alkhary 2 and the tanker Honour 25, indicating a troubling trend in maritime security.
Read at www.aljazeera.com
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