A special Piracy Ransom Task Force based in the United Kingdom recently recommended that the shipping industry cease paying ransoms to pirates after they hijack ships. Since the piracy epidemic began in 2008, the task force estimates that over $300 million USD in ransoms has been paid to various groups of Somali pirates. These recommendations […]
Piracy Threatening Global Trade
November 2012 The problem of piracy is no doubt an international one. India in particular suffers negative consequences, because they account for a relatively large proportion of global trade. The Indian Ambassador Hardeep Singh Puri took the time earlier this month to remind the rest of the world that it remains an international problem, not […]
Italy Jails More Somali Pirates
December 2012 Earlier this month, eleven Somali pirates were sentenced to three and a half years in jail by an Italian judge. The pirates had attempted to hijack a ship about 200 nautical miles off the coast of Oman on January 17th, 2012. The ship they attempted to hijack was an oil tanker belonging to […]
Understanding Somali Piracy
November 2012 Thanks to increased international naval presence and the placing of armed guards aboard merchant vessels, the Indian Ocean has seen a recent decline in piracy. However, in reality, this decline is merely a decline in the symptoms of a much deeper problem. In the early 1990’s, Somalia was torn apart by a civil […]
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