High demand for illicit oil, together with a well-established black market, will continue to drive maritime attacks in SE Asia over the coming months, meaning small tanker owners face operational, financial and security threats, warns leading maritime security provider, Protection Vessels International (PVI) - part of Protection Group International (PGI).
And, according to data from the PGI Risk Portal, hijackings in the region since April 2014 have followed a common pattern, and most cases have concentrated on congested areas around the Malacca and Singapore Straits, which present the best opportunities for pirates to board tankers with low freeboards.
It has recorded 13 hijackings in these waters between January and August 10, added to 14 hijackings targeting oil tankers since April 2014.
The total value and amount of siphoned oil cargoes is unknown, but at least 20 270 metric tonnes of fuel has been lost, likely to amount to more than the equivalent of R125 million.
If current trends continue, 2015 could see the highest annual rate of oil cargo thefts ever recorded in SE Asia.
On track for record hijackings in SE Asia
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