Investing in piracy at the Somali “stock” exchange

An oil-filled supertanker, hijacked just over a week ago by Somali pirates has reached the Somali coast. The biggest prize to date, the tanker is carrying approximately US$150 million worth of oil, so the pirates should be in for a hefty ransom payout.

Sharing in any ransom payout here will be a number of landlubbers who Continue reading

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“Coastwatch” Somali Style — The Benefits of Piracy

OK, I know I’ve been banging on about piracy in the last week, but a news piece from Channel 4 just out details an  unexpectedly beneficial side effect from Somali piracy.

You see, the reason why Somalians took up piracy in the first place was because Chinese and Japanese commerical fishing vessels were illegally raping the local fishing stocks. Without a standing navy, the Somalians were powerless to Continue reading

The Weekly Revisit

This is just a quick update on a few of our posts from the last week.

Follow up #1: Will a new “American Dream” emerge from the current recession?

First of all, in recession news, the New York Times yesterday carried another story of large amounts of people applying for Continue reading

Pirate Report

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When I saw that a Chinese ship had been hijacked last week, I thought it was about time for a piracy report, as after a large burst of publicity late last year surrounding the Somali pirates, there has been very little follow up in the mainstream media. While piracy is no longer front-page news, it is still alive and well Continue reading