Piracy in Somalia is well coordinated and it is interesting to note how the ransom collected is spent:
- Pirates involved in hijacking keep only 30 percent.
- Pirates’ bosses keep 20 percent.
- Government officials take 30 percent.
- Remaining 20 percent is spent for future operations like: buying weapons, communication equipment, vehicles etc.,
Here is a pie chart showing the distribution.
Source: Spiegel Online
Post in MarineBuzz on this day a year before:
Update: May 29, 2009
Pirates operating in waters off the Somali coast earned up to $150 million in ransom payments in 2008. Read more from RIA Novosti.
Update: June 16
Here is the new simplified formula for ransom distribution.
- The financier, usually a businessman who sponsors the piracy, gets 30% of ransom collected.
- The pirates directly involved in the piracy at sea, get 50% of ransom collected.
- The shore support team involved indirectly in the piracy, gets the remaining 20% of ransom collected.
To know more, view an interesting video clip from Al Jazeera: Lucrative raids lure Somali youth to piracy – 15 June 09
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