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THE ECONOMIC COST OF SOMALI PIRACY, 2012<br />
Appendix A:<br />
Methodology for Calculating Ransoms Paid<br />
Total ransoms paid for 2012 were compiled from various sources. The table below lists vessel name, vessel type,<br />
ransom amount, and the sources where the respective amounts were found:<br />
Vessel Name Vessel Type Ransom Paid Sources<br />
1. Somali Pirates Free Greek-owned Ship, Say Ransom Was<br />
$5.7 Mln. (2012, October 12). Reuters. Retrieved from http://<br />
www.reuters.com/article/2012/10/12/somalia-piracy-idU-<br />
SL5E8LC23020121012<br />
Free Goddess Bulk Carrier $5,700,000.00<br />
M/T Liquid<br />
Velvet<br />
Chemical Tanker $4,000,000.00<br />
MV Olib G Chemical Tanker $3,000,000.00<br />
2. Somali Pirates Release M/V Free Goddess - REPORT (2012,<br />
October 11). gCaptain. Retrieved from http://gcaptain.com/<br />
pirates-release-mv-free-goddess/<br />
3. Report on Somalia (2012, October 14). MS Risk. Retrieved<br />
from http://www.jltgroup.com/content/UK/risk_and_insurance/ms_risk_weekly/Report_on_Somalia_(October_8_-_14_2012).pdf<br />
1. Somali Pirates Release M/V Free Goddess - REPORT (2012,<br />
October 11). gCaptain. Retrieved from http://gcaptain.com/<br />
pirates-release-mv-free-goddess/<br />
2. <strong>Piracy</strong> Report 12th-20th September 2012 (2012, September<br />
20). Maritime Asset Security & Training. http://<br />
xa.yimg.com/kq/groups/2322095/124319294/name/<strong>Piracy</strong>_<br />
Report_12th-20th_September.pdf<br />
1. Archer, V. (2012, February 3). <strong>Piracy</strong> Report: February 3,<br />
2012- Pirate Attacks Down Due to Tough Weather Conditions.<br />
Somalia Report. Retrieved from http://www.somalia<strong>report</strong>.<br />
com/index.php/post/2689/<strong>Piracy</strong>_Report_February_3_2012<br />
2. <strong>Piracy</strong> Report 12th-20th September 2012 (2012, September<br />
20). Maritime Asset Security & Training. http://<br />
xa.yimg.com/kq/groups/2322095/124319294/name/<strong>Piracy</strong>_<br />
Report_12th-20th_September.pdf<br />
1. Archer, V. (2012, February 3). <strong>Piracy</strong> Report: February 3,<br />
2012- Pirate Attacks Down Due to Tough Weather Conditions.<br />
Somalia Report. Retrieved from http://www.somalia<strong>report</strong>.<br />
com/index.php/post/2689/<strong>Piracy</strong>_Report_February_3_2012<br />
MT Fairchem<br />
Bogey<br />
Oil/Chemical Tanker $8,000,000.00<br />
2. <strong>Piracy</strong> Report 12th-20th September 2012 (2012, September<br />
20). Maritime Asset Security & Training. http://<br />
xa.yimg.com/kq/groups/2322095/124319294/name/<strong>Piracy</strong>_<br />
Report_12th-20th_September.pdf<br />
3. Seafarers’ Fund Needed to Release Ships Held by Somali<br />
Pirates (2012, January 24). Safety4Sea. Retrieved from http://<br />
www.safety4sea.com/page/9133/2/seafarers--fund-neededto-release-ships-held-by-somali-pirates<br />
©2013<br />
41<br />
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