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Raising the Ransoms.(International Edition; FIGHTING PIRACY)(Brief article)

Newsweek International

| April 27, 2009 | Hosenball, Mark | COPYRIGHT 2009 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Mark Hosenball

President Obama's decision to authorize Navy snipers to kill three Somali pirates who took an American sea captain hostage was a hit with U.S. voters. But the operation makes shipping and insurance industries nervous. Until now, Somali pirates have taken good care of captives, since companies are more likely to pay ransom if they trust their personnel and cargo will be released unharmed. According to industry estimates, out of the 111 attempted pirate attacks off the Somali coast in 2008, 42 were successful, resulting in the capture of 815 merchant seamen. As of last week, all but 37 had been released, and only two had died--one reportedly ...

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Source: HighBeam Research, Raising the Ransoms.(International Edition; FIGHTING PIRACY)(Brief...

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