Free article preview  

Ransom payments range from US$500,000 to $3 million. The total since January 2008 is about $50-80 mn. Legal fees for a typical case are around $300,000, plus $100,000 for a ransom negotiator. Delivering a payment costs $1 mn. for ex-military guards and their boat. Revenue lost by late delivery, extra crew pay and compensation brings the total cost to the shipping industry to around $200 mn. since the start of last year....

(This article contains approximately 235 words)

end of free article preview

Current subscribers: log in now to read the complete article. Misplaced your password? Then click here for a password reminder.

Not a subscriber? Then you can read this article in full either by becoming a subscriber now, for 3, 6 or 12 months, or you can buy this individual article.

  • Subscribe to Africa Confidential:
  • Buy this article:
  • 3-month subscription
    Prices from £205.00 (+ VAT where applicable)
    6-month subscription
    Prices from £376.00 (+ VAT where applicable)
    12-month subscription
    Prices from £705.00 (+ VAT where applicable)
  • UK & European Union
    £17.00 (+ VAT where applicable)
    Rest of the world
    $27.00

  • If you have a print subscription already, click here for a password that gives you full access to the website.
  • If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.

Keywords:

Britain, Denmark, France, Germany, Netherlands, Spain, Sweden, Greece, United States, Japan, China, Iran, Malaysia, Russia, Switzerland, Turkey, Ukraine, Yemen, Norway, South Korea, Taiwan, India, South Africa, Canada, Portugal

Tag Cloud:

ctf151(2) germany(2) netherlands(2) piracy(2) ransom(2) ship(2) spain(2) warships(2)