Organization is the key to any successful business deal-even one made by pirates of Somalia. A recently discovered document shows that this group of pirates is transiting from a ruthless band of thugs to a more organized and well managed form of corporate raiders. In case your vessel has been hijacked by Somali Pirates-what do you do? The answer is, wait. Wait until to get an official form letter, with letterhead and all, from ‘Jamal’s Pirate Action Group’.
The most funny and somewhat surprising part is the memo format. "To Whom It May Concern"with the subject line "Congratulations to the Company/Owner." The memo begins with a tone that belies the violent reality of the pirate’s actions.
The memo begins with "Having seen when my Pirate Action Group (P.A.G) had controlled over your valuable vessel we are saying to you Company/Owner welcome to Jamal's Pirate Action Group (J.P.A.G) and you have to follow by our law to return back your vessel and crew safely."
The memo does manifest one thing quite clearly. Rogues though they may be, these pirates in many cases are surprisingly well-organized. With a history of well-publicized hijackings and abductions, Somali pirates have been able to distinguish themselves in the art of negotiations.
According to figures that were released by the International Maritime Bureau (IMB), in 2011 alone they cost the world around $7 billion and earned $160 million in the form of ransom fees. Another important point that needs to be outlined here is that the strengthening and effective dealing of pirates is also
developing a concomitant impact elsewhere. Over the years insurance groups such as Travelers, Chubb and AIG have rolled out special ‘kidnap and ransom’ policies, through which they offer cover for the cost of ransoms.
Hence, it is quite clear that Somali pirates have triumphed in occupying their own share in the corporate sector by bringing the menace occurring at sea to the boardrooms of international firms.