to research how much money they're likely to make. Most owners pay up quickly, transferring money through a network of bank accounts and private security operators. Ransoms this year alone have included a German-registered freighter released for $800,000, and a Danish icebreaker freed for $1.6m. The owners of Le Ponant reportedly paid $2m. According to the shipping paper Lloyd's List, payments could surpass a total of $50m this year. And of course, the ransoms only feed the pirates' appetite for hijacking, while also allowing them to upgrade their technology.

How can the problem be tackled?

While the shipping industry has long called for a military response, only the French have launched an all-out response: two commando raids, one two weeks ago and the other in April, resulted in the rescue of two sailors and some ransom money, the seizure of twelve pirates and the killing of another. But such an approach carries risks. Until now, captured crews have seldom been harmed (only two sailors have been killed, apparently unintentionally). But in response to the recent raid on the French yacht, a group of pirates based in Eyl has warned that they will now behead any European who falls into their hands should France fail to release the captured pirates. In August, a US-led naval task force established a series of waypoints marking a safe corridor through the Gulf of Aden, patrolled by warships and coalition aircraft. The task force has thwarted 12 hijacking attempts and sunk two skiffs, but it has failed to prevent the surge of attacks; fast-moving buccaneers have even hijacked ships inside the security area. The UN is working on a resolution for tougher action in Somali waters, but the fear is that such patrols will do little to tackle the root cause.

What is the root cause?

The political vacuum in Somalia that has existed since the fall in 1991 of the authoritarian Siad Barre regime. Since then, the country has suffered not only civil wars between different clans and separatist movements, but failed foreign interventions which, collectively, have bestowed upon Somalia the dubious honour of being not just a "failed state" but a "post-failed state". Experts agree that a strong central government is the only real solution. At present, Somalia's reputation for lawlessness means that though the US-led task force often knows where ships are being held, it seldom takes action, fearing that captured crews will be killed in the ensuing battle.

And the politics of piracy?

The five main gangs that operate along Somalia's 3,025km coastline are each tied to a powerful local warlord. Funds raised are used to arm local militias, adding to the violence and anarchy. Some of the cash is now thought to be fuelling terrorism. The threat of piracy has also made it difficult to help feed Somalia's people, who are currently at risk of a full-scale famine. Three cargo ships chartered by the UN World Food Programme were hijacked between 2005 and 2007.