Maritime piracy poses a threat to global shipping as pirates target commercial vessels for ransom, stealing cargo and kidnapping crew members to fulfil other motives, mainly political. Despite international efforts to deal with maritime piracy, it still persists in many hotspots driven by socio-economic and political factors. This article outlines the highest ransoms ever paid to pirates.
Maritime piracy has been in the world for more than 3000 years, with its earliest documented incidents in the 14th century BC, when the Sea Peoples raided ships in the Aegean and Mediterranean regions.
Piracy surged in several parts of the world during the Golden Age of Piracy, which spanned from the 1650s to 1730s, in which it flourished in the Indian Ocean, North Atlantic and the Caribbean, with the rise of many famous pirates, eyeing colonial trade routes and the valuable cargoes ships carried.
Modern-day piracy persists due to a lack of economic opportunities, corruption, poverty and other factors.
Irene SL Hijacking, 2011
The Irene SL hijacking is one of the most prominent maritime piracy incidents due to the record-breaking ransom paid for its release.
On February 9, 2011, the Greek-owned VLCC was captured by Somali pirates around 350 nm southeast of Muscat, Oman, while en route from Mina Al Ahmadi, Kuwait, to the U.S Gulf Coast.
The VLCC was loaded with 2 million barrels of crude oil worth 200 million dollars and had 25 crew members.
After being in captivity for 58 days, the crew was released in April 2011, after a ransom of $13.5 million was paid, the highest recorded ever. All the crew members were thankfully reported safe after being released.
This piracy incident drew international attention since it brought forth the escalating scale and reach of Somali pirates, and their ability to target large, high-value ships from the Somali coast.
After this shocking incident, the maritime industry realised how vulnerable the global oil supply routes are, and it led to calls for greater cooperation and increased naval patrols on these routes to fight piracy. This case remains a striking example of the financial and security risks posed by maritime piracy.
SMYRNI Hijacking, 2012
The SMYRNI hijacking was one of the major successful attacks on a large oil tanker by Somali pirates.
The incident unfolded on May 11, 2012, when the Greek-owned oil tanker MV Smyrni, loaded with 135,000 tonnes of crude oil and a 26-member crew, was hijacked by Somali pirates in the Arabian Sea close to Oman when it was sailing to Indonesia.
After remaining captive for 10 months, the ship and crew were released when a ransom of $ 9.5 million was paid to the pirates, and the ship was directed to a port of refuge, said to be Salalah, Oman. This case is remembered due to the high ransom paid to pirates for the ship and the crew’s safe release.
Samho Dream Hijacking, 2010
Another case where one of the highest ransoms had to be paid was the Samho Dream hijacking incident.
The Samho Dream was a South Korean supertanker sailing under the Marshall Islands Flag. It carried crude oil worth $160 million and had a 24-member crew when it was hijacked by Somali pirates, 600 nm off the Somali coast on April 4, 2010.
The ship and its crew were kept in captivity for more than 7 months or 217 days, and were released on November 6, 201,0, after a ransom of $9 to $9.5 million was paid. This was one of the biggest ransoms ever paid to Somali pirates at the time. It was delivered by helicopter.
After this incident, the ship was escorted safely by a South Korean Destroyer. The ship’s owner faced financial issues and filed for bankruptcy protection, with the ship eventually being sold after it arrived in Hong Kong due to non-payment of bank loans.
MV ABDULLAH Hijacking, 2024
This Bangladeshi-flagged bulk carrier was hijacked on March 12, 2024, about 550 nm off the coast of Somalia in the Indian Ocean.
It had a 23-member crew and carried a cargo of coal from Mozambique and was on its way to the UAE.
However, pirates boarded the ship in a brazen attack, making the most significant piracy incident in many years. They took the ship and its crew and anchored it close to the town of Harardhere, said to be a pirate haven.
Though the pirates demanded a high ransom, it was settled after a month of negotiations with the ship’s owner.
Finally, a $5 million ransom was paid in cash via airdrop on April 13, 2024, and the crew and ship were set free on April 14, 2024, after spending 32 days in captivity.
The Indian Navy and other forces escorted and supported the vessel after its release.
The recent incident has raised concerns about the resurgence of piracy in Somalia, prompting calls for increased vigilance and patrols in the region. This case garnered significant media attention as it marked the largest ransom case involving pirates since piracy rates decreased after 2012. It underscored the vulnerabilities in maritime security in the Indian Ocean, highlighting the risks faced by merchant shipping despite advanced security systems on vessels.
The persistence of maritime piracy can be attributed to underlying issues that need to be addressed. In Somalia, poverty and political instability have compelled traditional fishermen to turn to piracy and theft, contributing to an increase in crime rates. Weak governance and corruption create an environment conducive to piracy by undermining law enforcement efforts. Additionally, exploitation of coastal resources by foreign entities can drive locals to resort to illegal activities like piracy and cargo theft.
Efforts to combat maritime piracy require a multi-faceted approach. Legislative measures addressing root causes must be implemented to alleviate the grip of piracy in regions like Somalia. Enhanced naval presence, coordinated international cooperation, and the deployment of advanced technologies like AI for real-time monitoring are essential for securing ships and deterring pirate activities.
Maritime piracy is not limited to Somalia, with other regions like the Gulf of Guinea, Gulf of Aden, and the Singapore Strait facing significant piracy threats. According to the International Maritime Bureau, there has been a 50% increase in piracy and armed robbery cases worldwide in Q1 2025 compared to the same period in 2024. The Singapore Strait has emerged as a hotspot for piracy incidents, with bulk carriers and oil tankers being prime targets for pirate attacks.
In the face of evolving piracy tactics, navies like the Indian Navy have conducted anti-piracy operations to safeguard commercial shipping. Cross-border cooperation through initiatives like Combined Task Force 151 and Africa-India Key Maritime Engagement exercises are crucial in the fight against maritime piracy. It is imperative to address the root causes, strengthen maritime security measures, and promote international collaboration to effectively combat the threats posed by piracy in the world’s oceans. Please provide the contents that need to be rewritten.