MOSCOW, May 29 (RIA Novosti) - Pirates operating...
"According to various estimates, pirates in the Somali region last year managed to obtain about $120-150 million in ransom payments. This has enabled them to acquire more advanced equipment to seize large merchant vessels," Alexander Zvyagintsev told Izvestia.
"In particular, well-armed pirates now also operate out of large floating bases in the open sea, far from the Somali coast, which allows them to carry out attacks hundreds and even thousands of miles from the coast," he said.
Zvyagintsev said overall losses from piracy were estimated at $13-16 billion, adding that the figure included the soaring cost of insurance and protection for vessels, as well as sending ships on longer routes to avoid high-risk areas.
Somalia has been without an effective government since the Revolutionary Socialist Party was overthrown in 1991. The internationally recognized federal government controls only the capital city of Mogadishu and part of central Somalia.