Vietnam Firm Pays ‘Millions’ to Free Pirated Ship
Agence France-Presse (09/26/11)

The Vietnamese shipping firm Hoang Son Ltd. has paid a $2.6 million ransom to free its hijacked carrier and the ship’s crew. The vessel, known as the Hoang Son Sun, was captured by Somali pirates about 520 nautical miles southeast of Muscat, Oman, on Jan. 20, along with its crew of 24. Somali pirates still hold at least 49 vessels and more than 500 crewmembers hostage, the monitoring group Ecoterra says. Meanwhile, the Denmark-based firm Risk Intelligence is reporting that the ransom for an average-sized merchant vessel captured by pirates has risen to roughly $5 million.

Full article here

Posted by Alexander Martin in Piracy

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  • Grandpa Bluewater

    Predictable. Predicted. Will get worse. Behavior rewarded increases, in intensity and duration.

    Solution…punish the perpetrators. Until the level of pain persuades them to stop.

    Prediction…will get worse.

    Or as my Grandmother, a rural elementary school graduate explained…
    “A stitch in time saves nine.”

  • UltimaRatioReg

    “The end of that game is oppression and shame”…