piracy business model

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How did Somali Pirates get paid?

The Article ‘How did Somali Pirates get paid’ was originally published Aug 27, 2021 3:41 PM by The Maritime Executive Rob Phayre, a former ransom delivery specialist who helped shipowners retrieve vessels and crews from pirates, has written a new novel based on his experiences off Somalia. He recently corresponded with The Maritime Executive about the nature of […]

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What was the Somali Piracy Business Model?

Article / Rob Phayre

Modern maritime piracy is both similar and very different to the land based K&R model. When pirates hijack a ship, they are abducting a lot of people, but they are also taking control of the vessel and cargo as well. That doesn’t happen on land. So what was the Somali piracy business model? When the

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