Tanker Hijacking Part of Recent Pattern of Piracy
In mid-November, Saudi Arabia’s state-owned company, Vela International Ltd., had one of its oil tankers, the Sirius Star, hijacked by Somali pirates, who are a part of an Islamist militia along the coast of Somalia. This hijacking is one of many this year. Pirates have found an increase in willingness of ship owners to pay ransom, resulting in a dramatic increase in piracy in Middle Eastern waters. The average asking price for a stolen ship is now over $1 million, compared to tens of thousands just a few years ago. Along with the increase in pirated ships is the increase in the number of crew members captured. From January to September 2008, 581crew members have been taken hostage, compared to 172 during the same period last year.
The hijacked Saudi Arabia tanker is the largest vessel ever seized. The original ransom amount was $25 million, but earlier this week, the pirates made noises of possibly lowering their demand. There is no confirmation of the exact amount, but the pirates seem willing to negotiate.
Holly MacGillivray
