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How Somali pirates' resurgence is reshaping global shipping structure

Somali piracy is resurging, raising fresh security and cost concerns for global shipping. [AFP]

That release of MV Sward by Somali pirates a fortnight ago should not be celebrated as a successful resolution but read as a balance-sheet entry in a growing criminal enterprise, maritime experts say.

Reports indicate that after nearly five months in pirate hands, the St Kitts and Nevis-flagged cargo ship and its crew of Syrian and Indian nationals were freed following payment of an undisclosed ransom.

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