Has Somali piracy crisis returned? 'Yes and no', says maritime veteran
The seemingly relentless widening of the Middle East conflict beyond the Red Sea appears to ...
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By Alex Lennane
The Atlantic has published a great infographic on piracy. Noting that the amount spent on private security last year exceeded the amount paid in ransom money since 2005, it also reveals that in 2010, ransom money accounted for 3.4% of Somalia’s GDP. (Apple accounted for 0.5% of US GDP) Thought-provoking facts – including ones on pirate pay, bonuses and fines, presented in an interesting way.
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