Pirate News: Somali piracy has staggering cost

8 February 2012, 9:57 am

Somali piracy cost the world economy $7 billion dollars last year. Tristan McConnell NAIROBI, Kenya — Seven billion dollars is a huge sum of money and according to the research and advocacy organization One Earth Future that is what Somali piracy cost the world economy last year. On the plus side it's as much as $5 billion less than piracy cost in 2010, according to the same researchers. The new ...... Read More »

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