In the Gulf of Aden, Bab el-Mandeb Strait, and Somali Basin, piracy has reemerged as a significant threat to commercial shipping. After a lull in piracy from 2012 to 2024, when incidents were limited to zero or a couple per year, piracy has begun to increase since 2024. This rise has accelerated further so far in 2026. The rise in piracy is driven by state weakness and diverted international naval efforts, which have increased pirates’ ability to operate. Moreover, weapons and finance networks that connect Iran’s Islamic

Revolutionary Guard Corps (IRGC) logistics with Al-Shabaab, Houthis, and Pirate Action Groups (‘PAGs’) also incentivise piracy.

Pirate activity represents a significant threat to commercial operations, both in Somali territorial waters and offshore. The financial objective of Somali pirates is to hijack vessels and then pressure the relevant…