Skip to comments.Somali pirates cut ransoms to clear hijacked ships
Posted on 03/13/2011 3:11:29 PM PDT by george76
Somali pirates said on Sunday they would lower some of their ransom demands to get a faster turnover of ships they hijack in the Indian Ocean.
Armed pirate gangs, who have made millions of dollars capturing ships as far south as the Seychelles and eastwards towards India, said they were holding too many vessels and needed a quicker handover to generate more income.
I believe there is no excuse for taking high ransoms. At least each of our groups holds ships now, pirate Hussein told Reuters from Hobyo on the Somalian coast. He said the pirates were holding more than 30 ships at the moment.
We have lowered the ransom only for the ships we have used to hijack other ships. We sometimes release these ships free of charge for they generate more (money). But we shall not lower the ransom for the bulk ships we are sure can bring bulk money.
Using captured merchant vessels as launch pads for new hijackings, the pirates have grown bolder despite a loosely coordinated global response, and insurance premiums for shipping lines have rocketed.
since late February, the pirates have had to share their spoils with the Al Shabaab Islamist rebels, who profess loyalty to Al Qaeda.
(Excerpt) Read more at thestar.com ...
What??? a “blue light special?” Clearance sale?? How these pirates are allowed to still exist is beyond me.
Sounds like the pirates need to create a hostage and vessel clearinghouse of some kind. Arrrrg!
Right, so that just leaves the federal government that doesn’t understand market forces.
That’s bad when pirating becomes a ‘supply and demand’ economy.
Too many boats/captives, too little booty/bounty.
I say tell the Somali govt that since you cant control who is leaving your shores, WE WILL!, And that means we sink everything that strays more than say 1 mile from your shore - sort of a no-float zone.
Screw the U.N. and what they say.
EXCEPTION: If Michael Moore is captured, then by all means the pirates should “give him a deal”.
So the economy is even FUBAR for Jihadist pirates? That guy Obama is something else!! Will they get a bailout?
I can understand our boy in the White Hut not doing anything as it might get in the way of a round of golf or a Motown night or even another vacation. What I don’t understand is the hands off attitude of the actual world leaders that actually have a set.
Gee, I wonder why they keep doing this.
Soon on OVERSTOCK.COM.
You said “boy”, lol...expect a visit from Eric Holder...
pirates "Betters" will be inspired to lower ransoms taxes?
Hey, anything is possible...
“Low, low ransoms!
We have to make room for new inventory now!
The boss says ‘no offer refused’!”
And my favorite sale spiel...
“I’d give them away... but my wives won’t let me!!!!!!”
Pay them in “Basic Economics” By Thomas Sowell.
Political correctness protects the Somali pirates as it does the “poor kidnappers” of Mexico.
I wonder if the Russians will take them up on this deal.
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