Rising piracy revives old headache, could hike prices

A vessel of the Japan Maritime Self-Defense Force (front) guards a Japanese cargo ship in the Gulf of Aden off the coast of Somalia against piracy.

Photo credit: Pool

The rise in piracy in Somali waters is reviving an old threat to security in the region, and potentially increasing the cost of transporting cargo.

Official records show there have been 22 attacks on vessels since November last year, raising concerns among security experts.