Pirates hijack ship with 21 Americans aboard off Somalia

[JoeRedskin]

Originally Posted by firstdown

So I read that the pirates attacked the Maersk Alabama again and I wonder if it was targeted or just luck they hit this ship again. This time it seems they where armed and faught them off.

My question is - Which is more cost effective and ultimately safer: Hiring a highly qualified, well armed detachment for each of your ships sailing in the troubled area or paying ransom, paying for lost time, exposing the company to the loss of valuable personnel & property and putting lives at risk.

It would seem to me the former is ultimately cheaper even just as a deterrence force - I'd rather pay my mercenaries than pirates even if the risk of attack is slim. It always seemed pretty straightforward to me, maybe I am missing something.