A systemized approach to tanker hijackings

Smaller tankers are at great risk of being targeted by pirates off West Africa and Mr. Hans Tino Hansen, CEO at Risk Intelligence, highlights the systemized approach towards hijackings and armed robberies off West Africa. The highly lucrative and systemized business model draws upon a triangular trade in the Gulf of Guinea, emanating particularly from Nigeria, in which the hijacked tanker is sailed to a position where a second tanker, chartered by the syndicate, is waiting. The diesel or fuel oil is then transferred from the hijacked tanker through a STS transfer before entering the Nigerian market where the stolen products are sold with high gain. The systemized approach renders the attacks highly profitable, and the pirates can gain between two and eight million USD for a weeklong operation. So far there have been four successful hijackings this year, and there are currently several mother ships present in the area. Mr. Hansen points out that though not a growing problem, it is a problem that is continuously present and for which the outcome of the Nigerian elections in February are expected to have a direct impact on. There is a possibility a renewed violent spiral if a candidate from the North is chosen compared to the consequences of re-electing Mr. Goodluck Jonathan, who will be expected to do more to solve the problem.