Loitering munitions have emerged as a credible and growing threat to merchant shipping, with recent attacks demonstrating how easily civilian vessels can be located, tracked, and struck using low‑cost, hard‑to‑detect drone technology. Drawing on analysis commissioned by the Oil Companies International Marine Forum (OCIMF), this paper examines how loitering munitions are used against commercial ships, why crews have limited options once an attack is underway, and how the proliferation of military‑grade drone systems to state and non‑state actors is reshaping maritime risk across key sea lanes.