More Valuable Than An Oil Tanker? Somali Pirates HiJack Ship Carrying 2,400 Hyundais

Hyundai Motor Co., South Korea’s largest automaker, and affiliate Kia Motors Corp. don’t expect any losses after Somali pirates hijacked a vessel carrying cars last week.

“As soon as the vessel embarks, all risks related to the vessel are the responsibility of the distributor,” Hyundai said in an e-mailed response to queries. “All payments for the cars have been made, while the cars are also insured.”

Asian Glory, a car ship operated by EUKOR Car Carriers Inc., was hijacked on Jan. 1 while on its way to Saudi Arabia after departing from Ulsan, according to statement today from South Korea’s Ministry of Land, Transport and Maritimes Affairs. The vessel is owned by Zodiac Maritime Agencies Ltd. and was carrying 2,405 cars, including 2,388 from Hyundai Motor and Kia.

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Need4Speed - 1/6/2010 11:45:10 AM

+3 Boost

JACKPOT!

M53R - 1/6/2010 12:06:16 PM

+7 Boost

We'll be seeing Hyndais all over Somalia now ;)

CarCrazedinCali - 1/6/2010 12:10:14 PM

+1 Boost

Time for a new Carrier company eh Hyundai... maybe that's why you can sell your cars so cheap, haha... You get what you pay for, and apparently your Carrier doesn't have a chance against some poor African pirates.

Agent009 - 1/6/2010 12:16:52 PM

+4 Boost

Well those Pirates can be equipped with shoulder carried rocket launchers, not quite the type in Pirates of the Caribbean.

CarCrazedinCali - 1/6/2010 2:46:28 PM

+2 Boost

Equally, the Carriers should be prepared for the imbiciles with likewise artillery if necessary. It's business after all! Haha!

Joe_Limon - 1/6/2010 3:08:55 PM

+2 Boost

If they arm these boats the pirates will just get bigger weapons. They are best off doing what they are doing now, adding razor wire and electric fences.

MSP6 - 1/6/2010 12:21:27 PM

+6 Boost

They must have been so pissed when they found out what was in the belly of that cargo.

bfghemicuda - 1/6/2010 12:34:04 PM

+3 Boost

They must have forgotton the due-diligence part

Spectator - 1/6/2010 12:43:30 PM

+7 Boost

So my question is this, since the navies of the world might not be able to handle this pirate issue, why not hire privateers (If organizations like Blackwater can create a private Army...why not a private Navy)? If you ship cargo and want it protected by professionals you pay an organization to shadow the merchandise. Pirates show up...International waters(unlike soverign nations with laws)...you get to pump 5" shells into their little wooden dingy. Problem solved, no questions asked, no real laws of combat and conduct on the open sea, no shipment delay.

Heck I'm willing to be that the companies that used privateers would get large discounts from their insurance providers due to extra protection of the cargo. This could help offset costs for companies.

Just my .02

...oh yea this is a car forum....uhhhhhhh Ferrari's are fast. There we go, that should cover me. :-)

TexLandRover - 1/6/2010 6:27:36 PM

+2 Boost

I know, lets float (auto pilot and auto stop) a ship out there which looks like its carrying a bunch of oil but it really has highly radioactive waste on board instead. That would really make their day, I guaruntee it!

Joe_Limon - 1/6/2010 6:48:22 PM

+2 Boost

Hey, that would solve any nuclear waste problems to boot.

agent507 - 1/7/2010 6:41:15 AM

+1 Boost

Uhm guys, be careful. Radioactive waste for some dirty weapons could be a hell of lot more useful in terms of being able to sell it for an astronomic amount of pure cash ...

Joe_Limon - 1/7/2010 11:23:01 AM

+1 Boost

depends, most radioactive waste is useless.