Monday, January 2, 2012

On Somali Pirates: "I Told You So"

From an article by Neal Ungerleider, on, 2 January 2012

“Commercial shipping is one of the most cutthroat industries in the world, and shipowners don't have the budgets to spend on space-age defenses. The recent drop-off in piracy has been due to the increased use of armed guards, not technological innovation, which in turn have been made economically feasible by skyrocketing ransoms and lengthening captivity periods. One insurance company issued a stat a few months back that 80 percent of pirate attacks were being repelled by armed guards, and no vessel employing them has been hijacked.”

Now for the “I told you so” part:

This was the first, best recommendation that I made, of three, nearly 3 years ago on 4-11-09, on this site, in an article titled “3 Solutions to the Somali Pirate Problem”.

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