SINGAPORE – Economic uncertainty in many parts of the world is likely to fuel a rise in piracy attacks in Asian waters, said experts.
Global crises like the Ukraine war, regional geopolitical tensions and high inflation are some factors driving people to commit piracy.
Admiral Artemio M. Abu, chairman of the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia Information Sharing Centre (Recaap ISC), said that amid these conditions, the shipping industry needs to adopt practices such as information reporting and collaborating closely with the maritime authorities as part of efforts to protect crew and cargo.
During a discussion at an anti-piracy conference on Thursday at Marina Bay Sands, experts also touched on likely future trends of pirate attacks and what more could be done to eliminate the problem.
The conference was organised by the Singapore-based Recaap ISC, supported by international shipping associationBimco, the International Association of Independent Tanker Owners (Intertanko) and the S. Rajaratnam School of International Studies.
Adm Abu, in his opening address, said there were 25 incidents of armed robbery against ships in Asia between January and March.
He said: This accounts for a 9 per cent increase over the same period last year. We urge the littoral states of the Singapore Strait to continue to enhance surveillance and enforcement, as all incidents had occurred in their internal waters, archipelagic waters and territorial seas.
In the Singapore Strait, there were 18 piracy attacks between January and March the same as that for the corresponding period in 2022, said a Recaap ISC report.
The total number of attacks in the Singapore Strait one of the worlds busiest shipping lanes hit a seven-year high of 55 cases in 2022. The vessels attacked included bulk carriers, tankers, and tug boats and barges.
During a panel discussion, the Singapore navys Maritime Security Task Force commander Augustine Lim said the attacks in the Singapore Strait occur mostly during the festive season and monsoons.
Colonel Lim said: They usually target the bulk carriers and tankers as they are slower in speed, and the perpetrators often blend in with the fishing vessels, making it hard to identify them accurately.
Mr Elfian Harun of Intertanko said industry players and the authorities can use information provided by Recaap ISC to coordinate patrols and look out for ships that are likely targets for pirates. Panellists at Recaap ISCs anti-piracy conference on April 27 touched on likely future trends of pirate attacks and what more could be done to eliminate the problem. PHOTO: RECAAP ISC Another panellist, Mr Ashok Srinivasan, who is a manager at Bimco, said ships could be targeted at the same location because it is easier for pirates to launch an attack and retreat to a safe location in that area.
Recaap ISC assistant director Lee Yin Mui said that once a group member or the group itself is arrested, there tends to be a drop in attacks in that area.
During the discussion, maritime firm BW LPGs general manager Geoffrey Pearson touched on how crew members lives are at stake during a pirate attack.
He said: We do not want the crews lives to just be a statistic. We need to ensure that they are provided with the basic protection required.
Also, when shipping companies hire armed guards for them, they need to conduct proper and diligent checks on the companies they are hiring the guards from. Rear-Admiral Gregorious Agung, from Indonesian maritime security agency Bakamla, said regional partnerships are also key to ensuring maritime security in the region. Bakamla will host the Asean Coast Guard Forum in Jakarta from June 6 to June 9, he added.
Wrapping up the discussion on Thursday, Recaap ISC executive director Krishnaswamy Natarajan said the fight against piracy is the common responsibility of all stakeholders because it is a transnational maritime crime.
He said: Building trust and confidence among stakeholders is necessary to promote cooperation, collaboration and information sharing, and to reduce piracy and armed robbery incidents against ships in Asia. More On This Topic Piracy, robberies in Singapore Strait hit 7-year high in 2022 Police Coast Guard upgrades patrol boats to better manage maritime threats
Donald Trump has criticised Vladimir Putin and suggested a shift in his stance towards the Russian president after a meeting with Volodymyr Zelenskyy before the Pope’s funeral.
The Ukrainian president said the one-on-one talks could prove to be “historic” after pictures showed him sitting opposite Mr Trump, around two feet apart, in the large marble hall inside St Peter’s Basilica.
The US president said he doubted his Russian counterpart’s willingness to end the war after leaving Rome after the funeral of Pope Francis at the Vatican.
In a post on his Truth Social platform, he said “there was no reason” for the Russian president “to be shooting missiles into civilian areas, cities and towns, over the last few days”.
Image: The two leaders held talks before attending the Pope’s funeral
He added: “It makes me think that maybe he doesn’t want to stop the war, he’s just tapping me along, and has to be dealt with differently, through ‘Banking’ or ‘Secondary Sanctions?’ Too many people are dying!!!”
The meeting between the US and Ukrainian leaders was their first face-to-face encounter since a very public row in the Oval Office in February.
Mr Zelenskyy said he had a good meeting with Mr Trump in which they talked about the defence of the Ukrainian people, a full and unconditional ceasefire, and a durable and lasting peace that would prevent the war restarting.
Other images released by the Ukrainian president’s office show Sir Keir Starmer and French President Emmanuel Macron were present for part of the talks, which were described as “positive” by the French presidency.
Mr Zelenskyy‘s spokesman said the meeting lasted for around 15 minutes and he and Mr Trump had agreed to hold further discussions later on Saturday.
Image: The world leaders shared a moment before the service
Image: Donald Trump and Volodymyr Zelenskyy meet in the Basilica
But the US president left Rome for Washington on Air Force One soon after the funeral without any other talks having taken place.
The Ukrainian president’s office said there was no second meeting in Rome because of the tight schedule of both leaders, although he had separate discussions with Mr Starmer and Mr Macron.
The French president said in a post on X “Ukraine is ready for an unconditional ceasefire” and that a so-called coalition of the willing, led by the UK and France, would continue working to achieve a lasting peace.
There was applause from some of the other world leaders in attendance at the Vatican when Mr Zelenskyy walked out of St Peter’s Basilica after stopping in front of the pontiff’s coffin to pay his respects.
Image: Donald Trump and the Ukrainian president met for the first time since their Oval Office row. Pic: Reuters
Sir Tony Brenton, the former British ambassador to Russia, said the event presents diplomatic opportunities, including the “biggest possible meeting” between Mr Trump and the Ukrainian leader.
He told Sky News it could mark “an important step” in starting the peace process between Russia and Ukraine.
Professor Father Francesco Giordano told Sky News the meeting is being called “Pope Francis’s miracle” by members of the clergy, adding: “There’s so many things that happened today – it was just overwhelming.”
The bilateral meeting comes after Mr Trump’s peace negotiator Steve Witkoff held talks with Mr Putin at the Kremlin.
They discussed “the possibility of resuming direct negotiations between Russia and Ukraine”, Kremlin aide Yuri Ushakov said.
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On an extraordinary day, remarkable pictures on the margins that capture what may be a turning point for the world.
In a corner of St Peter’s Basilica before the funeral of Pope Francis, the leaders of America and Ukraine sit facing each other in two solitary chairs.
They look like confessor and sinner except we cannot tell which one is which.
In another, the Ukrainian president seems to be remonstrating with the US president. This is their first encounter since their infamous bust-up in the Oval Office.
Image: The two leaders held talks before attending the Pope’s funeral
Other pictures show the moment their French and British counterparts introduced the two men. There is a palpable sense of nervousness in the way the leaders engage.
We do not know what the two presidents said in their brief meeting.
But in the mind of the Ukrainian leader will be the knowledge President Trump has this week said America will reward Russia for its unprovoked brutal invasion of his country, under any peace deal.
Mr Trump has presented Ukraine and Russia with a proposal and ultimatum so one-sided it could have been written in the Kremlin.
Kyiv must surrender the land Russia has taken by force, Crimea forever, the rest at least for now. And it must submit to an act of extortion, a proposed deal that would hand over half its mineral wealth effectively to America.
Image: The world leaders shared a moment before the service
Afterwards, Zelenskyy said it had been a good meeting that could turn out to be historic “if we reach results together”.
They had talked, he said, about the defence of Ukraine, a full and unconditional ceasefire and a durable and lasting peace that will prevent a war restarting.
The Trump peace proposal includes only unspecified security guarantees for Ukraine from countries that do not include the US. It rules out any membership of Ukraine.
Ukraine’s allies are watching closely to see if Mr Trump will apply any pressure on Vladimir Putin, let alone punish him for recent bloody attacks on Ukraine.
Or will he simply walk away if the proposal fails, blaming Ukrainian intransigence, however outrageously, before moving onto a rapprochement with Moscow.
If he does, America’s role as guarantor of international security will be seen effectively as over.
This could be the week we see the world order as we have known it since the end of the Second World War buried, as well as a pope.
Crypto investor sentiment has seen a significant recovery from global tariff concerns, but analysts warn that the market’s structural weaknesses may still result in downside momentum during periods of weekend illiquidity.
Risk appetite appeared to return among crypto investors this week after US President Donald Trump adopted a softer tone, saying that import tariffs on Chinese goods may “come down substantially.”
However, the improved investor sentiment “does not guarantee that Bitcoin will avoid volatility over the weekend,” analysts from Bitfinex exchange told Cointelegraph:
“Sentiment improvements reduce fragility, but they do not eliminate structural risks like thin weekend liquidity.”
“Historically, weekends remain vulnerable to sharp moves — especially when open interest is high and market depth is low,” the analysts said, adding that unexpected macroeconomic news can still increase volatility during low liquidity periods.
Bitcoin (BTC) staged a near 11% recovery during the past week, but its rally has previously been limited by Sunday liquidity dynamics.
BTC/USD, 1-year chart. Source: Cointelegraph
Bitcoin fell below $75,000 on Sunday, April 6, despite initially decoupling from the US stock market’s $3.5 trillion drop on April 4 after US Federal Reserve Chair Jerome Powell warned that Trump’s tariffs may affect the economy and raise inflation.
The correction was exacerbated by the lack of weekend liquidity and the fact that Bitcoin was the only large liquid asset available for de-risking, industry watchers told Cointelegraph.
“While improved sentiment creates a more stable foundation, cryptocurrency markets are still susceptible to rapid movements during periods of reduced trading volume,” according to Marcin Kazmierczak, co-founder and chief operating officer of RedStone blockchain oracle firm.
“The sentiment recovery provides some cushioning, but traders should remain cautious as weekend liquidity constraints can still amplify price movements regardless of the current market mood,” he told Cointelegraph.
Crypto investors may have “maxed out on tariff-related fears”
Cryptocurrency markets may have priced in the full extent of tariff-related concerns, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.
“It feels like we’ve maxed out on tariff-related fear,” she told Cointelegraph, adding:
“While many remain uncertain about where things are headed over the next month or so, it also seems like markets were just waiting for the slightest signal that we’re back in the game.”
“Whether the rally is sustainable depends on whether we can break through previous resistance levels, at least in isolation. It could have legs, as markets now seem to believe there’s a ‘Trump put’ under equities, the US dollar and US Treasurys,” Barthere added, warning of more potential volatility amid the upcoming negotiations.
Nansen previously predicted a 70% chance that crypto markets will bottom and start a recovery by June, but highlighted that the timing will depend on the outcome of tariff negotiations.
The tariff negotiations may only be “posturing” for the US to reach a trade agreement with China, which may be the “big prize” for Trump’s administration, according to Raoul Pal, founder and CEO of Global Macro Investor.