Somalian pirates made $150 million over past year

There is a lot of money to be made in piracy, specifically when it comes to the hijacking of containers ships, oil ships and other vessels. According to an article published by Associated Press and its South African counterpart SAPA, Somali pirates have collected over $100 million in ransoms over the past year. 

"We are advised that in the last 12 months, ransom to the excess of $150-million has been paid to these criminals and that is why they are becoming more and more audacious in their activities," Kenyan Foreign Minister Moses Wetangula said.

Over the past fourteen days, fourteen ships were seized by Somalian pirates, including a  Saudi supertanker transporting $100-million worth of crude oil. Currently, several hundreds of crew are in the hands of the pirates, who are not known for their compassion. The ransom has been increased to $25 million.

The pirates' 'success' lies in the fact that they operate in a highly sophisticated manner. They for instance use satellite navigational and communications equipment and have an intimate knowledge of local waters. They are heavily armed too, with automatic weapons, anti-tank rocket launchers and grenades - weaponry that is readily available throughout Somalia.

Somalia is what one would called a failed state - a country which is politically ruled by warlords, who each have their private armies.

Up until 1991, Somalia had a semi-normal governmental system, with tax collection, social services, and law enforcement. This ended when the era of  dictator Siad Barre was driven out by a national rebellion.