The Western Indian Ocean faces rising maritime threats, particularly piracy along the Somali coast. A recent hijacking of the Maltese-flagged tanker Hellas Aphrodite underscores regional insecurity. This instability jeopardizes the blue economy, costing approximately $1.1 billion annually and hindering growth in ocean-based industries vital for the region’s development.
Investigators from the UK’s Marine Accident Investigation Branch (MAIB) are probing an incident where thousands of bananas washed ashore near Southampton after 16 containers fell overboard. Initial findings indicate inadequate securing of the containers contributed to the disruption, prompting an examination of cargo securing practices and environmental impacts.
The Nigerian maritime sector is in crisis, with its indigenous fleet dwindling drastically, leading to foreign carriers handling 95% of cargo. Stakeholders at the PortNews Summit called for the urgent release of the Cabotage Vessel Financing Fund, which has remained dormant for 18 years, costing the economy billions annually.
