Somali ransom sums set to soar

Record $3m payout at this week points to increasing demands

Richard Meade - Tuesday 30 June 2009

RANSOM payments for ships hijacked off Somalia have hit a new high of $3m, and prices are expected to continue rising as third-party agents acting on behalf of both shipowners and pirate gangs manipulate negotiations.

The release of the Belgium-flagged dredger Pompei

at the weekend is understood to have cost the vessel’s owner Jan de Nul a...

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