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March 15, 2011

Over-stocked pirates reduce ransoms

Somali pirates cut ransoms to clear hijacked ships

MOGADISHU, March 13 (Reuters) - Somali pirates said on Sunday they would lower some of their ransom demands to get a faster turnover of ships they hijack in the Indian Ocean.

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.

Posted by joke du jour at March 15, 2011 06:01 PM

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