Oct 17, 2008

Pirates of the Horn


I heard that the countries of the world are now planning to do something about the pirates on the Horn of Africa who have been creating misery for shippers going through that area. The pirates have been very successful in the capture of vessels and kidnapping of ship crews for ransom. It has been so successful that the intensity of the illegal activity seem to increased ten folds. The rest of the world seem to have been distracted by America Votes, Olympics, Russian hype and the world financial crisis as well as the uncertainty of what to do due to this stupid law of neutral seas.
Well these Somalian guys have not much choices for a decent living and the rest of the world seem to have hoped that it would not get out of hand to the point where they will really do something about it. Despite the presence of American and other countries military ship in the area and top surveillance capabilities these pirates are outfoxing them, or are they? Come on guys don't look stupid do something..
The implications for the lack of action will definitely mean the increased in shipping cost and increase cost to the consumer and a spike in insurance for shipping companies going through that zone. There is no real alternate rout as the trade route affected is between Asia, Europe and east Africa. they can go around south Africa and come up but that will cost us just the same. Ships cant take weapons on vessels either due to international water laws, so lets see what this new initiatives will bring - or will the pirates roam free.

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