The pirates of Somalia, in making world trade a bit more of a high risk venture, have finally placed their own unsavory hobby in jeopardy. Bloomberg reports that NATO is currently reassessing its operations in the insecure waters off the coast of Somalia. "This hijacking could really change the picture and we could see much more proactive rules of engagement,'' said Hans Tino Hansen, managing director of Risk Intelligence, a maritime security consultant based in Vedbaek, Denmark.

Already, there are at least 15 warships in the region, forming a multinational coalition armed with the intent of calming those pirate churned waters. In the last ten days, India, Russia, Britain and Germany have each engaged pirates in battle. The report from Bloomberg indicates that more warships are on the way to the Gulf of Aden. When considering what is hoped to be a decisive end to cargo ship hijackings by maritime pirates in the region, I say we must use every available means to make those waters safe for world commerce. I don't know about you, but I have always considered the taking of a sea-going vessel to be an overt act of war.

The whole world is eagerly watching to see how this saga shall finally play out. One thing is for sure, the clock is ticking down towards the demise of pirate profitability off the shores of Somalia. At this time, we might take pause to remember the indomitable words of Popeye the Sailor Man, who often uttered this statement when forced to take drastic and decisive action against obviously abusive behavior:

"That's all I can stands, and I can't stands no more."

China Venture News reports that China's state-owned shipping firm, COSCO, is initiating an IPO of 1.78 billion shares which is scheduled for the Shanghai Stock Exchange on June 26. The report states that sales of shares online began June 18, 2007. The report further states that price per share should be starting between "7.60 yuan and 8.48 yuan per share." According to the report, "Analysts expect the price to go to 15 yuan a share early in trading."

Cosco plans on using the money raised for renwewing and/or increasing its shipping fleet and has also earmarked the funds for expanding port facilities. Cosco is currently China's single largest state owned shipping operation.