somalia

At least three vessels have been targeted in hijackings this week off the coast of Somalia in what analysts fear is a replay of past piracy around the Horn of Africa. The area was the world’s most notorious hotspot for piracy in the early to mid-2000s, with an international naval coalition eventually subduing the threat it posed to global shipping. According to the World Bank, the annual impact of piracy off Somalia on the global economy was as high as $18bn during the height of the crisis. Intermittent hijackings have continued since then, with a number of incidents occurring in the area this