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Report: Somali pirates rake in up to $30M in 2008
(Agencies)
Updated: 2008-10-02 21:22

MOGADISHU, Somalia -- Pirates off Somalia's lawless coast have raked in up to $30 million in ransoms this year alone, a London-based think tank reported Thursday, as negotiations continued between pirates and shipping officials over the release of a Ukrainian tanker laden with battle tanks and weapons.


Somali pirates hijack the Belize-flagged MV Faina. US Navy ships and helicopters on Tuesday circled a hijacked Ukrainian freighter carrying Russian battle tanks and arms while talks were held with pirates off the Somali coast. [Agencies]
A flotilla of US navy warships have surrounded the MV Faina, which is anchored off the central Somali coast, to ensure that the pirates don't unload any of the weapons. The cargo ship and its 21-man crew were hijacked Sept. 25, and the ship's load of 33 Soviet-made T-72 tanks, ammunition and heavy weapons have sparked fears among Western governments that the arms could end up in the hands of terrorists.

The pirates have demanded a $20 million ransom and Somali officials on Wednesday authorized foreign powers to use whatever force is necessary to free the ship.

The report Thursday by Roger Middleton for Chatham House said the millions being earned by pirates in ransom were already being used to pay for the war between the shaky Somali government and Islamic insurgents, some of whom are on a US State Department list of terrorists.

"The international community must be aware of the danger that Somali pirates could become agents of international terrorist networks," Middleton warned, but admitted there was no explicit evidence yet showing that ransoms had bought weapons outside Somalia.

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