Nigeria's Maritime Piracy Ransoms Spiral Upwards

With claims that a $2m ransom was paid to release two US crew last week there are increased fears that this will serve to encourage other groups to kidnap for ransom in the Gulf of Guinea.

The master and the chief engineer were seized from C-Retriever, an Edison Chouest-owned offshore supply vessel off Nigeria last month, and subsequently they were released amid claims that a ransom was paid. Rather surprisingly it seems the ransom was allegedly paid by the Nigerian Maritime Administration and Safety Agency (NIMASA).

While there is much speculation surrounding the release, there are  those who fear that the level of cash involved could serve as a catalyst for more attacks.  In the past the average ransom for Nigerian hostage-takers was previously in the $50,000-$100,000 range. So a leap up into the millions could serve as a real game changer.