marine link image

Middle-Man Negotiates Pirate Ransoms

May 14, 2010

According to a May 13 report from the Associated Press, a Somali “pirate middle-man” said he's made hundreds of thousands of dollars brokering deals to free ships and their cargos after pirates attack. The 32-year-old Somali, who would be identified only by his alias, Abdi Sheik, said he helped gain the release earlier this year of a supertanker carrying an estimated $150m of crude oil. He claims to have successfully negotiated the release of an arms-laden Ukrainian ship and the 20 sailors onboard. Details of his accounts of being a middle-man could not be entirely verified, but Sheik had previously provided AP with reliable inside information about hijacked ships and a business associate confirmed his involvement in ransom negotiations. Somali pirates have collected far more than $100m in the last several years. The International Maritime Bureau said sea attacks worldwide surged 39 percent in 2009 to 406 cases, the highest in six years.

(Source: Associated Press)

Logistics News

Legal Action Taken Following Spiridon II Livestock Deaths

Legal Action Taken Following Spiridon II Livestock Deaths

Freeport CEO Says Iran War Could Delay New US LNG Projects

Freeport CEO Says Iran War Could Delay New US LNG Projects

Russian Baltic Ports Pause Crude Loadings after Ukrainian Drone Attack

Russian Baltic Ports Pause Crude Loadings after Ukrainian Drone Attack

Jordan Purchases 50,000 Tons Fed Barley

Jordan Purchases 50,000 Tons Fed Barley

Subscribe for Maritime Logistics Professional E‑News

Some private investors are unsure of what shares they have purchased in the SpaceX IPO
H&M Q1 profits grow more than expected; March sales are up 1%
Hungary restricts gas supply to Ukraine