Tanker owners propose naval blockade

A group of tanker owners has proposed a naval blockade off the coast of Somalia as a way of stopping pirate attacks.



Pirates operating from Somalia have attacked dozens of ships this year, the latest case being the seizure of a tanker carrying $100 million worth of oil.



Head of the International Association of Independent Tanker, Owners Peter Swift, is suggesting that the United Nations coordinate naval patrols in the area.



According to Mr. Swift many tanker owners are considering a detour around South Africa to avoid pirates, and that this would raise costs by 30 percent.



He said continuing attacks would have a major impact on world trade.



Somali pirates have reportedly been paid more than $150 million in ransoms in the past 12 months.