Somali pirates take more than £100m in the past year

Somali pirates have collected more than £100m (€119m) in ransoms over the past year, it emerged today.

Kenya’s foreign affairs minister Moses Wetangula revealed the figure and called on ship owners not to pay when their vessels are hijacked because it encourages the pirates.

Meanwhile the head of world’s largest oil tanker company called for a multinational military protection force off the Somali coast.

Martin Jensen warned his company Frontline may divert its cargo shipments away from the treacherous Gulf of Aden, a move that would increase costs up to 40%.

He added that he believes a multinational force is needed to resolve the issue. He said, “One country can’t fix this by itself.”

Frontline is negotiating a possible change of shipping routes with some of its customers, including oil giants Exxon Mobil, Shell, BP and Chevron.

Earlier this week, gunmen off the coast of Kenya took over a tanker of state oil company Saudi Aramco carrying two million barrels of oil worth about £67m (€80m).