Subscribe to RSS feedRansoms set to soar
RANSOM payments for ships hijacked off Somalia have hit a new high of US$3m, and prices are expected to continue rising as third-party agents acting on behalf of both shipowners and pirate gangs manipulate negotiations.
Freed: the dredger Pompei, seen here being pursued in April, was ransomed for a reported US$3m, setting a new payment record.
The release of the Belgian-flagged dredger Pompei at the weekend is understood to have cost the vessel’s owner, Jan de Nul, a record US$3m payout via third-party specialist negotiators.
Belgian defence minister Pieter de Crem confirmed this week that...
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