Somali pirates seize shipping vessel + Drone deliveries pick up steam

Author

Ben Thompson
March 22, 2024

In partnership with

Ahoy Friends! This weeks export is Seaweed. Indonesia 🇮🇩 takes the helm as the leading exporter, closely followed by South Korea 🇰🇷. These two countries have masterfully navigated the waters of the global market, securing a combined market share of over 60%. Let's delve into the currents that have propelled these nations to the forefront of seaweed exportation. 🌊🌿🌎

In today’s email:

  • Pirates Are Back: 🏴‍☠️ Somali bandits hijack vessel.

  • Zoom Zoom: 🛥️ History's fastest ships by class.

  • Future Tech: 📦 Doordash trials drone delivery in US.

SHIPPING NEWS

Somali Pirates Are Back

In a startling resurgence after nearly a decade of dormancy, Somali piracy has resurged, escalating the operational costs for global shipping companies already contending with Houthi militia attacks in the Red Sea. This resurgence was highlighted in March 2024 when Somali pirates attacked the Abdullah, a Bangladeshi-owned vessel in the western Indian Ocean. The crew's distress signal was unanswered, leading to the pirates boarding the ship, taking hostages but, according to Chief Officer Atiq Ullah Khan, initially leaving everyone unharmed. This incident underscores the broader challenges facing maritime commerce in one of the world's busiest shipping lanes.

The increase in pirate attacks since November has pressured the shipping industry with higher security, insurance, and potentially, ransom costs. Pirates have capitalized on the reduced presence of international naval patrols, with over 20 attempted hijackings reported. The strategic significance of the Gulf of Aden, linking Europe and Asia, amplifies the impact of these disruptions on global trade.

Efforts to counter this threat include a significant intervention by the Indian Navy, which recently freed the Ruen, another vessel captured by pirates. This action highlights the importance of naval deterrence in preventing piracy. However, Somali President Hassan Sheikh Mohamud has voiced concerns that if these early signs of piracy's return are not addressed promptly, the situation could escalate to the levels seen during the 2008-2014 peak of pirate activity.

The international community is urged to support Somalia in enhancing its maritime security and law enforcement capabilities, vital steps in sustaining the safety of crucial maritime routes against the backdrop of evolving piracy challenges. Clip here

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VIDEO OF THE WEEK

History's Fastest Ships by Class

  • Pierre Guillaumat - 16.7 knots/31 kmh (SUPERTANKER)

  • Queen Mary 2 - 30 knots/56 kmh (OCEAN LINER CUM CRUISE SHIP)

  • USS Enterprise - 33.6 knots/62.24 kmh (AIRCRAFT CARRIER)

  • MV Mærsk Boston - 37 knots/69 kmh (CONTAINER SHIP)

  • SS United States - 43 knots/80 kmh (OCEAN LINER/PASSENGER SHIP)

  • Papa Class Submarine K-222 - 44 knots/81 kmh (NUCLEAR CRUISE MISSILE SUBMARINE)

  • HSC Francisco -58.1 knots/107.6 kmh (CATAMARAN FERRY SHIP)

  • Skjold Class Corvette - 60 knots/110 kmh (CORVETTE/SMALL WARSHIP)

  • Foners - 70.1 knots/129 kmh (SUPER YACHT)

  • Caspian Sea Monster - 351 knots/650 kmh (EKRANOPLAN)

GLOBAL TRADE SNIPPETS

Australia racks up biggest arms export deal: $1B AUD for Boxers to Germany. To get some idea of the scale of this deal, Australia’s entire defense exports in 2020-21 were worth $2.6 billion, according to the Australian Defense Export Office.

Houthis Reportedly Strike Deal With Russia, China For Safe Passage. China and Russia are supporting the Houthis—and reaping safe passage through international waters that the Iran-backed group have been showering with missiles and drones, the top U.S. military official in the region said Thursday.

DoorDash begins piloting drone deliveries in the US. Select users in Christiansburg, Virginia will be able to order eligible menu items from their local Wendy’s. DoorDash first launched its drone delivery pilot program in Australia in 2022, where it is now operating drone deliveries with more than 60 merchants

A CBDC trial in Hong Kong could finally enable blockchain to digitise shipping. The product is part of Hong Kong’s wholesale central bank digital currency project and aims to digitise a process that has been paper-based for centuries.

QUICK CLIPS ON “X”

SHIPWRECK OF THE WEEK ⚓️☠️ 

Launched in England in 1867, the HMS Vixen was a teakwood-covered gunboat deemed too slow and unseaworthy for the Royal Navy. After failed sea trials, she and her sister ship were towed to Bermuda in 1888 for defense but became obsolete by 1896, with Vixen eventually blocking a channel to prevent torpedo attacks. Today, Vixen's bow protrudes from the water, marking a protected wreck site....... Click to see shipwreck 👀

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The Power of Going All-In: Secrets for Success in Business, Leadership, and Life. Brandon Bornancin, a successful serial entrepreneur, reveals his leadership framework for maximizing team potential and achieving significant business milestones, including sales over $150M. This guide offers strategies for inspiring excellence, overcoming common leadership hurdles, and fostering a culture of achievement and growth in any organizational role.

Fluke: Chance, Chaos, and Why Everything We Do Matters. Author Brian Klaas explores the impact of chaos theory on human events, challenging the belief in a predictable world. Klaas argues that small, random events can drastically change our lives and society, urging us to reconsider our understanding of reality and history. Through social science, history, and chaos theory, he reveals how chance shapes our lives and offers insights for living more fulfilling lives.

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