Port of Ushuaia

Maritime Risk Context

Ushuaia in Argentina connects the major commodity exporters of West Africa and South America with global markets, carrying crude oil, iron ore, soybeans, coal, and containerised goods. The Gulf of Guinea has surpassed the Gulf of Aden as the world's most active piracy zone, accounting for the majority of global incidents and the vast majority of crew kidnappings. Unlike Somali piracy's hijacking-for-ransom model, Gulf of Guinea attacks typically aim at kidnap-for-ransom, cargo theft, and oil theft from tankers. The diversion of container traffic around the Cape of Good Hope due to Red Sea security threats has increased congestion at South Atlantic bunkering ports and along the South African coast.

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