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France became the first nation to storm a yacht hijacked by Somali pirates, rather than negotiate a ransom. One hostage dead, four freed, pirates taught a lesson.

Other nations, America included, negotiate ransoms for their ships.

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The reason the ransoms are a source of negotiation is because if the different countries and shipping agencies were forced to pay tariffs and taxes in the region, both they and their insurance companies are aware that those payments would be in excess of ten times the amount of the ransom requests.

It is actually less expensive for the shipping companies to have their insurance absorb small costs now in order to prevent long term perpetual tariffs imposed by standard strait regulations, which does not occur at present in the regions suffering from piracy.

ME 03 May 2009

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