Voyage in a Raging Storm

Somali pirates just pawns in a global business

Published 09 December, 2008, 18:50

Pirates operating off the Somali coast are about to receive another US$3.5 million ransom for the release of the Ukrainian freighter Faina. That will bring their total haul to some US$40 million so far this year. But doe A few months ago, it cost US$ 230,000 a day to charter a mid-sized bulk carrier, but now one can be booked for as little as US$ 3,000 a day, with the fall in the Baltic Dry Index of shipping costs, surpassing the falls elsewhere. Som... - Pirate Ship Sounds Voyage in a Raging Storm