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Somali Pirates now in the “protection business”.

Africa Security News.- Rotten pirate boats near Hobyo, Somalia.

Africa Security News.- Rotten pirate boats near Hobyo, Somalia.

Frustrated by many failed hijacking attempts, some Somali pirates have turned to a new business model:¬† providing “security” for fishing boats¬† illegally plundering Somalia’s fish stocks.

Pirates are also trafficking in arms, drugs and humans, according to a report published this month by the U.N. Monitoring Group on Somalia and Eritrea.

Up to 180 illegal Iranian and 300 illegal Yemeni vessels are fishing Somali waters, as well as a small number of Chinese, Taiwanese, Korean and European-owned vessels, according to estimates by officials in the northern Somali region of Puntland.