Tag: Ransoms
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IMO on Piracy
The International Maritime Organization’s Head of Maritime Security, Tracy Peverett, has been speaking to Reuters Insider about its plans to combat Somalia’s pirate problems. Efforts such as tracing ransom cash, […]
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Little Faith
According to a new study, only 17 percent of German shippers believe the EU mission in Somalia, Operation ATALANTA, was contributing a significant amount to the fight against piracy. This […]
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Terror Links
Lloyd’s Underwriters are reviewing US assertions that ransoms paid to Somali pirates may fund terrorism. Kenya’s government estimates 30 percent of the ransoms are channelled to al-Shabaab. “We would not […]
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Hot Streak
Pirates are on a hot streak this season and the focus has returned back to the mechanism which makes it all happen the pirate stock exchange in Harardheere. Open 24 […]
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Cash Calls
In a letter regarding the role of underwriters in Somali piracy, Commander Shishir Upadhyaya Research Fellow, Indian National Maritime Foundation questions the fact that underwriters make the world go round, […]
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Downward Spiral
The United Nations (UN) believes that the payment of multi-million dollar ransoms for the release of hijacked vessels encouraged piracy and attracted the involvement of international criminal gangs. Augustine Mahiga, […]
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Ransoms Lower
Somali piracy has taken an “alarming turn” since the beginning of the year, becoming more “prevalent, lucrative and violent”. According to an insurance conference, an estimated $65 million was paid […]
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Ransoms Legal
Given the shipping industry’s reliance on ransoms to get ships freed from pirates, there is some relief that a recent court decision has reaffirmed that ransom payments are legal. According […]
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Tensions Defused
Somali militants have reportedly freed pirate gang leaders detained last week after agreeing on a cut for future ransoms as well as a deal to have hijacked ships anchor at […]
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Ransom Dispute
Local Somali media sources have been covering a “summit” between pirate groups and Islamist insurgents. The reports claim that a 2-day meeting between Al-Shabab which controls over 10 regions in […]
