Today shipping has been a victim of Somalian piracy.
Though the history of Somali Piracy can be dated back to 1991, when the piracy was limited to hijacking of foreign Trawlers and fishing boats. Interestingly, Pirate's developed balls for regular shipping only after the financial crisis in 2007 and their bravado peaked in 2008 after the world slipped into a virtual recession.
Increased piracy has resulted in high insurance premiums and use of additional bunkers and thus their prices. These two factors coupled with fear have already led to a substantial reduction in maritime traffic in the Gulf of Eden, which is world's busiest shipping route between East and West.
It's hard to comprehend, how handful of pirates from poor illiterate third world could hold the entire world shipping at ransom in this advance age? Either there is lack of seriousness and will to fight piracy or it is part of a well planned act to hinder free trade...
Whatever it is, I see it as worst kindda violation of human rights of sailors captured by pirates and psychological harassment of sailors transiting the GOA.
The bold and underlined acts of these perpetrators of terror at sea, encourage their brothers on land, thus there is an immediate need that world must come together and uproot this menacing weed.
