This August, the final captives held hostage by Somali pirates were finally released after an excruciatingly long captivity.
The stretch of coast off East Africa where the captives were taken in 2015 was once famous for its speedboat hijackings. And then, suddenly, it went quiet. There haven’t been any recorded attacks in the region since 2018.
But that doesn’t mean piracy has disappeared. The locus of piracy has simply shifted—to the West. Read more…..
Chart of the Day
CNBC’s Frank Holland reports on how the global coronavirus is impacting the shipping industry.