Subscribe to RSS feedRansom demands soar to astronomical levels
by
Nigel Lowry, Athens
—
last modified
Jun 19, 2009 03:34 PM
SOMALI pirates are squeezing bigger ransoms out of shipowners as they become savvier negotiators and some victim companies remain in the dark about the going rate, experts say.
“Settlements are on the increase and cases are becoming less standard in nature and much more difficult to settle,” Alex Kemp, operations manager for Group 4 Security subsidiary NYA International said.
Pirates’ opening demands had jumped from a range...
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