Somali pirates recorded their first major hijacking of 2010, capturing a ship carrying 2,388 Hyundais and Kias on January 1. The ship, "Asian Glory," was hijacked 1,000 miles off the coast of Somalia as it approached the Suez Canal on its way to Saudi Arabia.
Even if the ship is never recovered, Hyundai will suffer no financial losses on the cars, which had evidently already been purchased by the company's regional distributor.
"As soon as the vessel embarks, all risks related to the vessel are the responsibility of the distributor," Hyundai advised Bloomberg. "All payments for the cars have been made, while the cars are also insured."
Hyundai has issued a plea via the ship's owner, Zodiac Maritime Agencies Ltd., for the safe return of the 25 crew members.
brn says:
01:47 PM, 01/ 5/10
"Even if the ship is never recovered, Hyundai will suffer no financial losses on the cars, which had evidently already been purchased by the company's regional distributor."
Well, that's just great. 25 crew members on the ship might get killed, but Hyundai has managed to dump any financial responsibility. Such good news.
/s
"Somali pirates now hold at least 12 ships,"
This $%# needs to stop.
arumage says:
02:04 PM, 01/ 5/10
brn:
I'm sure that statement was made in response to a question specifically related to financial losses, rather than to the well-being of the captured crew members.
cr_driver says:
04:04 PM, 01/ 5/10
Exactly,!
Hyundai has issued a plea...keep reading man.
tyndago says:
05:04 PM, 01/ 5/10
Send in some more SEAL's. Keep offing pirates.
cwc1 says:
05:07 PM, 01/ 5/10
Why have "we", the U.S., and the world accepted this? It's like it's just a normal occurrence, no big deal. Someone, presumably us, ought to be kicking some a$$. The more they're pleaded with, they more the pirates perceive this as weakness and will continue to do more of it.
e90_m3 says:
05:15 PM, 01/ 5/10
I cannot think of ANY country in this world that has no redeeming value whatsoever... except Somalia.
May I suggest naval blockade and starve these sorry excuses of human being? Actually, no blockade is required--just stop the foreign aid.
Only bleeding heart liberals would advocate helping these human garbage, only to have them come around and bother the rest of the world.
inlinesix says:
08:41 PM, 01/ 5/10
Some people are doing something. Its not our job to protect cargo from other countries.
http://online.wsj.com/article/SB126265833983415885.html?mod=rss_Today%27s_Most_Popular
The U.N. just stopped food aid in Somalia.
http://www.msnbc.msn.com/id/34710512/ns/world_news-africa/
We in the U.S. have spent enough $$ and lives in other conflicts. Putting U.S. patrols in the waters off Somalia is a dumb idea. Freighters (at least) just need to blow up the pirate's small boats before they can board. Stop them from taking ships though to kill their money supply.
dougtheeng says:
06:01 AM, 01/ 6/10
This is all because of that damned Pirates of the Caribbean movie. America thinks that Johny-freaking-Depp is swaggering his way onto cargo ships off of Africa and they don't mind! Dammit people, wake up!
billt9 says:
06:53 AM, 01/ 6/10
we need to declare war on the pirates. capturing them and then releasing them back to the wilds is stupid.
capture to execute.
estreka says:
11:06 AM, 01/ 6/10
I can assure you, your armed forces are stretched thin as it is. We don't have the manning to protect thousands of miles of shoreline.