The Somali-Kenya Connection,,.Spanish hostages' wives: 3 crew taken ashore‎ -

The insurance companies won't tell you; the shipping companies won't tell you; and, of course, the Somali pirates don't say a word. What is not talked about is the amount of money being made by the Somali piracy entrepreneurs -- and then what they do with it. One thing is clear: Kenya is a major factor.
If the exact figures involved in the piracy activity are not available, the count of hijacked vessels is more easily obtained. The International Maritime Bureau has reported that through the first nine months of this year 32 ships have been taken by the Somalis. Quoting the same sources, the New York Times last May reported that in the previous 18 months Somali pirates "have netted as much as $100 million by hijacking dozens of ships…"
The insurance companies and private ship owners easily can calculate what their vessel and cargo is worth. The kidnapped crews are priced relative to the political pressure of their families and governments on the victimized firms. Sources insisting on anonymity in the relevant insurance concerns suggested that depending on rank and nationality/ethnicity individual ransoms run from $1,000 to $100,000 (European captain level). The crew and cargo of November 2008's Saudi super tanker hijacking were reportedly ransomed for $3 million last January. That figure was considered a bargain by the ship's owners and its insurers.
Less important than actual profit figures of Somali piracy is what is done with the money. Anyone who has traveled to Kenya recently can get a rather good idea. In the better sections of Nairobi there are several high-rise office and residential complexes. According to local journalists, many of the newer buildings were financed for the most part by Somali investors. The profits from piracy would appear to be well handled.
This is not to say the community of Somalis in Kenya generally have not also benefited. The Eastleigh section of east Nairobi, heavily populated by Somalis, is booming as a result of a complicated web of private financial transfers that expedite sale and purchase of smuggled goods avoiding taxes. The Barclay's Bank branch in Eastleigh is open seven days a week to provide full service. No other bank in Nairobi operates on this every day schedule. ,,more..http://spectator.org/archives/2009/11/06/the-somali-kenyan-connection
Spanish hostages' wives: 3 crew taken ashore‎ -