3 hijackings in the Gulf of Guinea in 2022

Despite a substantial increase in oil prices, the number of hijackings targeted at stealing oil items did not spike. (Image: Risk Intelligence)

THE INSIGHT:

Merchant ships were hijacked in three incidents during 2022. One vessel was hijacked twice with refined oil products reportedly stolen on both occasions. Some observers have noted these incidents with concern, noting that such attacks could become more frequent again due to comparatively high oil prices.

Attributing the previous decrease in the number of hijackings to falling oil prices, however, has failed to take other factors into account. Domestic prices for refined products throughout West Africa are generally subsidised and therefore not subject to shifts in the price for crude oil. Meanwhile, improving naval capacities in the region have made extended-duration hijackings almost impossible. Attackers therefore shifted their attention to kidnappings of seafarers which requires them to spend much less time on an attacked vessel, making a naval response virtually impossible.

In recent years, reported hijackings have therefore been limited to small product tankers trading exclusively in the region. While these incidents have often been linked to other illicit activities, investigations by agencies in the region have rarely led to conclusive results due to very limited monitoring and surveillance capacities at sea.

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