According to Dryad Global’s Maritime Security Threat Advisory (MSTA), recorded maritime security incidents are at their lowest levels in 40 years. Incidents of offshore piracy across the Indian Ocean and the Gulf of Guinea regions have shown “considerable declines from previously high rates,” the Dryad Global report says.
“The former [is] showing a substantial decline to a near total absence of incidents across a protracted timeframe and the later [is] showing a decline in incident volumes with sporadic evidence of a persistent threat within key areas,” the MSTA stated.
“At the outset of 2023 the Indian Ocean region sees the removal of the HRA which had been in place since 2010, reflecting the considerable decline in traditional maritime security threats within that region,” the MSTA added.
The company’s threat advisory released in December 2022, outlined that total maritime security incidents dropped 36% year on year in West Africa and 5% year on year in the Indian Ocean. Incidents had risen 21% year on year in South East Asia.
“Whilst piracy remains at historically low levels, it is important to note that this is set against the backdrop of a worsening macro-economic headwind that is highly likely to accentuate many of the conditions which are responsible for the prevalence of piracy,” the Dryad MTSA warned.