Strategy Page offers an interesting explanation as to why the world seems slow to do anything about the Somali pirates:
While ten percent of world shipping traffic goes through the Gulf of Aden each year, most of it is in ships too fast for the pirates to catch, and too large for them to easily get aboard. These ships pay higher fuel costs (for the high speed transit), higher insurance premiums, and two days of "danger pay" for their unionized crews, and that's it. This increases the annual operating costs of these ships by a fraction of one percent. But for smaller, and slower, freighters, mostly serving local customers, the pirates remain a problem. These ships tend to be owned by African and Arab companies, and manned by African and Arab crews.
In other words, in financial terms piracy is just not much of a problem. The article goes on to lay out the pros and cons of the various options for ending it:
In dealing with a piracy problem like this, you have three main choices. You can do what is currently being done, which is patrolling the Gulf of Aden and shooting only when you see speedboats full of gunmen threatening a merchant ship. The rule appears to be that you fire lots of warning shots, and rarely fire at the pirates themselves. This approach has saved a few ships from capture, and the more warships you get into the Gulf, the more pirate attacks you can foil. But it won't stop the pirates from capturing ships. Establishing a similar anti-piracy patrol off the east coast of Africa would cost over half a billion dollars a year, at least.
A second approach is to be more aggressive. That is, your ships and helicopters shoot (pirates) on sight and shoot to kill. Naturally, the pirates will hide their weapons (until they are in the act of taking a ship), but it will still be obvious what a speedboat full of "unarmed" men are up to. You could take a chance (of dead civilians and bad publicity) and shoot up any suspicious speedboat. Some of the pirates would probably resort to taking some women and children with them. Using human shields is an old custom, and usually works against Westerners. More pirate attacks will be thwarted with this approach, but the attacks will continue, and NATO will be painted as murderous bullies in the media.
The third option is to go ashore and kill or capture all the pirates, or at least as many as you can identify. Destroy pirate boats and weapons. This is very dangerous, because innocent civilians will be killed or injured, and the property of non-pirates will be damaged. The anti-piracy forces will be condemned in some quarters for committing atrocities. There might even be indictments for war crimes. There will be bad publicity. NATO will most likely avoid this option too. The bottom line is that the pirate attacks, even if they took two or three times as many ships as last year, would not have a meaningful economic impact on world shipping. For example, the international anti-piracy patrol in the Gulf of Aden costs $300 million a year, a fraction of a percent of the defense budgets of the nations involved. Politicians and bureaucrats can stand that kind of pain, and will likely do so and refrain from doing anything bold in Somalia.
It seems to me that the best option is to amend the Law of the Sea treaty to allow shipping companies to employ trained private security contractors, such as we used in Iraq, to fend off attacks. Once word gets out that ships are manned by security teams and that a lot of pirates are going to get killed if they try to hijack a ship, a lot of them would see their enthusiasm for piracy evaporate rather quickly.
Ron Paul offers a somewhat similar plan. He thinks the U.S. should employ bounty hunters.RLC