January 26, 2011

"Over 40 percent of the world's seaborne oil supply now passes through waters at high risk from pirate attack."

Reuters "Better equipped Somali pirates operating deep at sea threaten oil tankers in key waterways, and more naval firepower is "desperately needed" to combat the growing risk, shipping groups warned on Tuesday." By Jonathan Saul

'Seaborne gangs are making tens of millions of dollars in ransoms, and despite successful efforts to quell attacks in the Gulf of Aden, international navies have struggled to contain piracy in the Indian Ocean owing to the vast distances involved.

'Shipping associations BIMCO, the International Chamber of Shipping, INTERCARGO and INTERTANKO said in a joint statement on Tuesday the situation had "changed radically" in recent weeks due to new pirate tactics, which included heavier firepower.'

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