ABC News

Pirate Hijacking Can Cost Tens of Millions of Dollars

Negotiating with pirates is such a cutthroat business that shipowners have to make sure they don't get robbed a second time while delivering the ransom. Firms that have negotiated the return of their ships and crews from Somali pirates have discovered that one pirate may grab another pirate's ransom, leaving the captured ship still in hostile hands and an angry pirate still demanding his booty. A kidnap-for-ransom consultant, known as a K&R specialist, is likely telling that now to the Saudi... Full Story
Contribute | Do you have more information about this topic? If so, please click here to contact the editors of ABC News.
35 Comments | Add Yours
Comments that include profanity, personal attacks, or antisocial behavior such as "spamming," "trolling," or any other inappropriate material will be removed from the site. We will take steps to block users who violate any of our terms of use. You are fully responsible for the content you post.