Armed pirate gangs, who have made millions of dollars capturing ships as far south as the Seychelles and eastwards towards India, said they were holding too many vessels and needed a quicker handover to generate more income.Isn't that special?
"I believe there is no excuse for taking high ransoms. At least each of our groups holds ships now," pirate Hussein told Reuters from Hobyo on the Somalian coast. He said the pirates were holding more than 30 ships at the moment.
"We have lowered the ransom only for the ships we have used to hijack other ships. We sometimes release these ships free of charge for they generate more (money). But we shall not lower the ransom for the bulk ships we are sure can bring bulk money."
My idea of what a "fire sale" should look like for the pirates
Sunday, March 13, 2011
Somali pirates cut ransoms to clear hijacked ships: