Jonathan K. Waldron, partner in Blank Rome's maritime group, was recently interviewed by Marine Log for their May 2010 edition that focused on the issue of piracy.
The article—Piracy Roundtable—features Mr. Waldron, and three other maritime industry professionals, discussing the implications of President Obama's Executive Order released on April 13 that freezes the assets of Specially Designated Nationals (SDNs) who are seen as either inciting or contributing to the violence in Somalia, but also prohibits U.S. persons (i.e., companies) from doing business with these individuals. Two of the individuals on the SDN list are known pirates who could have hundred of pirates working for them.
Mr. Waldron weighs in with Marine Log and the other maritime insiders to discuss what this means for the shipping industry world wide, and why making ransom payments to Somali pirates should be proceeded with extreme caution, if at all.
Reprinted with permission from Marine Log.