The Wall Street Journal reports that pirate activities off the coast of Somalia is increasing the cost of shipping insurance and may even lead to military intervention.  From the Wall Street Journal: Pirates have stepped up attacks on merchant vessels in the Gulf of Aden, increasing insurance costs for ship owners and raising the specter of military [...]

Reuters has a round up of the recent pirate activity off the coast of Somalia.  From Reuters: Heavily-armed pirates from Somalia have hijacked at least 30 ships this year. Spreading lawlessness, a rampant insurgency and a worsening aid crisis onshore look set to drive that number higher. Somalia’s 3,300 km (2,060 mile) coastline is considered one of the [...]

Pirates off the coast of Somalia are using their ransom payment to fund an Islamist insurgency  on land. From Reuters: n explosion of piracy this month off the coast of Somalia is funding a growing insurgency onshore as the hijackers funnel hefty ransom payments to Islamist rebels, a maritime official said on Sunday. A record four ships were [...]

Source: Daniel Wallis, “Piracy ransoms funding Somalia insurgency,” Reuters, August 24, 2008.

Source: Nick Rankin, “No vessel is safe from modern pirates,” BBC News, March 11, 2008.