How Trump’s War With Iran Is Giving Somali Pirates an Opening

Piracy drives up the costs of shipping. Insuring vessels goes up, if insurers are willing to cover the boats at all. Vessels must also adopt expensive protective measures. This can include anything from razor wire that might prevent boarding to water cannons or private security. 

In some cases, exporters shipping from Asia to the U.S. may have to take longer routes, using more fuel—already soaring in price—while delaying deliveries and adding freight costs to move goods across land. It all adds up, and could end up costing major shipping firms like Maersk and Hapag-Lloyd up to an extra million dollars per ship. 

“We have not yet heard of goods on board being sold on, as that would require skills that the pirates likely don’t have and would be complicated,” says director of the ICC-CCS Cyrus Mody, noting that stealing the cargo could also reduce ransom payments. “You would also need to find buyers willing to buy stolen goods from pirates,” he adds.