Though a sustained resurgence in Somali piracy would put additional pressure on the global shipping industry, and potentially contribute to geopolitical tensions between India and China, such piracy's impact will likely be limited compared to its late 2000s peak due to stronger multinational counterpiracy structures. The International Chamber of Shipping on Dec. 14 announced the hijacking of the Maltese-flagged Ruen bulk carrier, the first successful hijacking off the coast of Somalia since 2017. Thereafter, the Indian navy on Jan. 5 foiled the attempted hijacking of a Liberian-flagged bulk carrier 460 nautical miles off the coast of Somalia. Between November 2023 and January 2024, no less than 14 piracy incidents have been reported off the Horn of Africa.