News > Houthis/Somali pirates attack 13% of global seaborne trade

Houthis/Somali pirates attack 13% of global seaborne trade

In the first three weeks of March, the number of ships transiting through the Suez Canal was down 51% YoY. Since November 2023, the threat to shipping has increased as the Houthis started attacking ships in the Red Sea and the Gulf of Aden. Piracy activity off the East coast of Somalia has risen and since December, two bulk carriers and several fishing ships have been hijacked. This marks the first successful hijacking by Somali pirates in six years.