During the years from 2005 to 2012, 179 ships were hijacked off the coast of Somalia and the Horn of Africa. The average ransom paid was $2.7 million, with ordinary pirates receiving $30,000 to $75,000 each and bonuses paid to those who brought their own weapons or were first to board the ship.
The newly released report dissects the complex and historical nature of piracy in the region and explains the unusual way in which money filters from the hands of those paying the fines to the pirate’s financial backers, government officials, middlemen and others.