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2008-11-30 Africa Horn

Egypt willing to fight Somali pirates: minister

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Posted by Fred 2008-11-30 00:00|| || Front Page|| [1 views ] Top
File under: Pirates

#1 Hmm. An Egyptian ship armed with the equivalent of 50-cals has the balls to volunteer for this, but western governments are too scared to get involved at much more than a symbolic level unless shamed into action. Hmm.

Posted by gorb 2008-11-30 14:43|| 2008-11-30 14:43|| Front Page Top

#2 "Hmm. An Egyptian ship ...has the balls..."
they also have a vested interest in seeing traffic through the canal, something that Western powers don't. as long as the good reach port, someway, it is easier passing on the higher costs to the consumer, rather than actually doing anything about the problem. i personally expect Bambi to pull any USN 'anti-pirate' assets out and deploy elsewhere.

Posted by USN, Ret. 2008-11-30 19:09|| 2008-11-30 19:09|| Front Page Top

#3 The Baltic Dry Weight shipping index has dropped by an eye-popping 90% this year. Leased ships are cheap at the moment. Increased insurance rates for the Suez route make the Cape route economic.

Egypt has a big problem.

Posted by phil_b 2008-11-30 19:32|| 2008-11-30 19:32|| Front Page Top

#4 An Egyptian ship armed with the equivalent of 50-cals has the balls to volunteer for this, but western governments are too scared to get involved at much more than a symbolic level unless shamed into action.

More like the Egyptians see a severe monetary loss, due to decreased Suez Canal traffic. 'Balls' have nothing to do with it.

At this point, proportionally few 'Western' ships have been taken and 'Western' traffic has not been seriously impaired.. Q.E.D., few Western governments see the need to get involved at anything more than a symbolic level.

Insurance rates will rise, just as they did in Southest Asia. The 'Western' nations have alternatives. The Mid-East and Eastern Africa do not. Just as in Southeast Asia, the regional nations are going to have to take matters into their own hands.

Posted by Pappy 2008-11-30 21:43|| 2008-11-30 21:43|| Front Page Top

#5 BTW, this almost an exclusively a European problem and their trading partners in the ME and Asia. Little US trade goes through the Suez Canal and that which does can more easily take the Cape route than Euro trade.

Posted by phil_b 2008-11-30 21:58|| 2008-11-30 21:58|| Front Page Top

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