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Kit Chellel26 May 2022

The Wild Hijacking Of A $100 Million Supertanker - Kit Chellel - #478

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Insights & moments

The myth-busts, hot takes, explainers, and tools worth keeping.

Hot Take· 1

Hot Take

Pursue it like Al Capone — as a financial crime, not a murder

Chellel argues the case isn't hopeless. British police say they can't investigate a murder in Yemen, which is true jurisdictionally. But campaigners argue you don't need to prosecute the murder — you can treat it as maritime piracy and insurance fraud, the way authorities got Al Capone on tax, since the evidence still exists.

  • Police claim no jurisdiction to investigate a Yemeni murder
  • Campaigners say reframe it as piracy and insurance fraud instead
  • The Al Capone precedent: convict on the financial crime you can prove
  • The evidence still exists; it would just take will and bravery

You can do what they did to Al Capone, right? They got him on his taxes.

Kit Chellel
#justice#financial-crime#strategy#campaign

Explainer· 7

Explainer

Why shipping is still a lawless, cowboy industry

Despite carrying 90% of everything we buy, global shipping remains secretive, under-policed and dominated by wealthy, hidden owners. Kit Chellel explains that unlike most of the economy, shipping never modernized into transparency, leaving it 'lawless around the edges' with widespread crime.

  • Roughly 90% of everything you own arrived by ship
  • We're more reliant on ships than at any point in human history
  • The industry stayed secretive, wealthy-owned, and outside public and law-enforcement view
  • A lot of crime happens at sea that never surfaces publicly

It's still kind of lawless around the edges. It's still dominated by like very secretive, wealthy people.

Kit Chellel

90% of everything, and that runs from your iPhone through to a Barbie doll you bought for your daughter... it's all come by boat.

Kit Chellel
#shipping#maritime#crime#industry
Explainer

Past 10 miles offshore, there is effectively no law

Chellel explains why crime at sea goes unpunished: national police and agencies only reach about 10 miles offshore, and beyond that jurisdiction falls between the cracks of the flag state, owner nationality and cargo route. If a sailor is thrown overboard and the crew is intimidated into silence, no police force has the resources or mandate to prosecute.

  • Law enforcement reaches only ~10 miles offshore
  • At sea you're technically subject to your flag's law, but enforcement is near-impossible
  • Overlapping nationalities of ship, owner, crew, insurer and cargo make jurisdiction unclear
  • Historically, criminals escaped justice simply by boarding a ship

Once you go past that point there is no law, quite literally that's the case.

Kit Chellel

Everyone sits around going, whose job is this?

Kit Chellel
#jurisdiction#maritime-law#piracy#crime
Explainer

How Somali pirates hijacked ships with skiffs and grappling hooks

At the 2011 peak of Somali piracy there was an attack roughly every couple of days. Chellel describes the MO: a fast skiff carrying six or seven armed men would pull alongside a huge vessel, use grappling hooks to climb 30-40 feet up the side, seize the bridge, and steer the ship to Somali waters to be held for ransom.

  • 2011 was the peak of Somali piracy in the Gulf of Aden
  • Small skiffs carried six or seven armed men with grappling hooks
  • Pirates climbed 30-40 feet up the hull to seize the bridge
  • Ships were taken to Somali waters and held until a ransom was paid

Captain Phillips is actually a great starting point for the way modern piracy works.

Kit Chellel

There was an attack on a ship once every couple of days back in this period. It was rampant.

Kit Chellel
#piracy#somalia#gulf-of-aden#ransom
Explainer

Water hoses, barbed wire and a 'pirate scarecrow'

Unarmed merchant ships defend against pirates with speed, naval convoys, armed guard teams, and improvised deterrents. Chellel lists the Brillante Virtuoso's measures: high-pressure water hoses that can capsize small boats, barbed wire around the hull, and even a mannequin propped on the bridge to fake a watchman.

  • Guns are legally and morally fraught on merchant ships, so most carry none
  • Options: go fast, travel in naval convoys, or hire armed guard teams
  • Powerful water hoses can capsize an attacking skiff
  • The Brillante used barbed wire and a mannequin 'pirate scarecrow' on the bridge

They even had like a mannequin dressed up in sailors' gear, propped up on the bridge to look like there was someone on watch.

Kit Chellel
#ship-security#piracy#defense#deterrence
Explainer

Salvage crews: the ocean's emergency service that fights for a payout

Chellel explains marine salvage economics: crews roam looking for stricken ships and race to be first on scene, because under Lloyd's maritime rules a successful salvor can claim up to ~10% of the value saved. On a billion-dollar ship that's a huge payout, which is why the business is lucrative, dangerous and sometimes violently competitive.

  • Salvage crews plug leaks, fight fires and rescue crews of stricken ships
  • Successful salvage earns up to ~10% of the value saved
  • On a big ship that can mean tens of millions of dollars
  • Rival crews can clash — guns pointed, chains forcibly removed — over a prize

Salvage crews are like the emergency service of the ocean.

Kit Chellel

If you manage to salvage a ship, you get anything up to sort of 10% of the value of what it's carrying.

Kit Chellel
#salvage#maritime#incentives#lloyds
Explainer

Why Lloyd's of London quietly pays fraudulent claims

Chellel explains that fraud is effectively priced into the 500-year-old Lloyd's market. Because the shipping world is a single-ship-company web of shell entities, and fighting a claim means costly litigation and bad publicity, insurers often find it cheaper to pay suspicious claims and pass the cost to customers via higher premiums.

  • Lloyd's is the 500-year-old market where big risks get insured
  • Each ship is typically owned by its own single-purpose shell company
  • Fighting fraud means expensive litigation and reputational risk
  • It's often cheaper to pay ~1-in-50 dodgy claims and raise premiums than to fight

It's actually in most cases a lot easier just to pay to make these problems go away, and then pass the cost on to the…

Kit Chellel
#lloyds#insurance#fraud#incentives
Explainer

Why insurers fought this claim — the number got too big to ignore

The trigger for a real fight wasn't Mockett's murder but the size of the claim. The Greek owner claimed not just the ship's value but lost profits and interest, pushing the total toward $100 million. Insurers' own lawyers later admitted they'd have happily settled had the sum been smaller.

  • The owner claimed ship value plus lost profits and interest
  • The claim ballooned toward ~$100 million
  • The sheer size, not the murder, is what made insurers fight
  • Insurers' lawyers admitted they'd have settled a smaller sum

Once this claim reached a certain size... they decided it was time to fight because they didn't want to just pay.

Kit Chellel
#insurance#claim#lloyds#litigation

Story· 5

Story

The man who dropped suitcases of cash out of planes over Somalia

Ransoms were routinely paid because owners couldn't afford to leave crews and cargo (a big ship might carry a billion dollars of goods) stranded for months. Chellel recounts meeting a professional ransom-payer whose job included flying a small plane over Somalia and dropping suitcases of cash out the window.

  • A single big cargo ship might carry ~$1bn of cargo and ~20 crew
  • Owners couldn't afford months-long standoffs, so ransoms were paid
  • A whole lucrative ransom industry sprang up
  • One negotiator literally airdropped suitcases of cash over Somalia

He would sometimes literally take a small plane and fly over Somalia and drop suitcases of cash out of the window.

Kit Chellel
#ransom#piracy#somalia#insurance
Story

The night fake pirates boarded and torched the Brillante Virtuoso

Drifting fully lit off Aden waiting for a security team, the tanker was approached by masked, AK-47-armed men claiming to be that security crew. The captain ordered them aboard; they seized the bridge, locked the Filipino crew in the TV room, then a deep explosion and fire broke out and the attackers vanished — behavior nothing like a real ransom hijacking.

  • The ship waited overnight, lit up 'like a Christmas tree', drifting without power
  • Masked armed men claimed to be the awaited security crew and were let aboard
  • Crew were locked in the TV room; captain and chief engineer taken away
  • An explosion started a fire and the 'pirates' left without taking the ship or a ransom

They hear an explosion coming from deep within the ship, and smoke starts pouring in through the grills.

Kit Chellel

How would they know that there was a ship here waiting for security crew? You would have to have very specific knowledge.

Kit Chellel
#brillante-virtuoso#insurance-fraud#piracy#arson
Story

The marine surveyor who smelled fraud — then was killed by a car bomb

Insurers hired David Mockett, a respected British surveyor in Aden, to assess the wreck. He found no evidence of a rocket-propelled grenade or heavy AK-47 fire and reported the incident looked staged. Days later a targeted TNT car bomb placed on his seat killed him instantly — a political-assassination-style device that no terror group claimed.

  • Mockett was hired to assess damage and cause of the fire
  • He found no RPG or AK-47 evidence — the damage didn't fit a pirate attack
  • He reported the incident as strange and requiring deeper investigation
  • Days later a targeted car bomb killed him; no terror group claimed responsibility

The evidence doesn't point to piracy, so what is it?

Kit Chellel

A car bomb that's been placed directly on his seat is detonated, which kills him instantly.

Kit Chellel
#david-mockett#investigation#murder#yemen
Story

Same owner, same salvage crew, same engineer — twice

Investigators discovered Lloyd's often didn't even know who beneficially owned the ships it insured. When they traced the Brillante to Marios Iliopoulos ('Super Mario'), they recognized him: an earlier ship of his had suffered a mysterious fire and split in two nearby — salvaged by the same crew, Vasilios Vergos, with the same Filipino chief engineer aboard both times.

  • Lloyd's frequently doesn't know a ship's true beneficial owner
  • The Brillante traced back to Greek tycoon Marios Iliopoulos
  • An earlier ship of his had a mysterious fire and broke in two nearby
  • The same salvage crew and same chief engineer appeared on both incidents

One unfortunate accident off the coast of Yemen is bad luck, two is probably something else.

Kit Chellel
#investigation#super-mario#vergos#pattern
Story

The verdict: Yemeni coast guard hired to fake a pirate attack

A London High Court judge ruled the Brillante was deliberately burned by Yemeni Coast Guard members hired by Iliopoulos and associates including Vergos in a pre-planned insurance fraud. Chellel explains transnational crime works through loosely affiliated networks and local fixers, making it easy in Yemen to pay officials to stage the 'attack'.

  • A High Court judge found the fire was a pre-planned insurance fraud
  • Yemeni Coast Guard members were hired to pose as pirates
  • Local fixers like Vergos plugged the Greek network into Yemeni power structures
  • Transnational crime runs on friendships of convenience, not ironclad conspiracies

A high court judge in London ruled that the ship had been deliberately burned by members of the Yemeni Coast Guard who had been hired…

Kit Chellel

They work with each other when it's financially beneficial to do so. Friendships of convenience.

Kit Chellel
#verdict#insurance-fraud#yemen#coast-guard

Takeaway· 1

Takeaway

How 'Super Mario' came out tens of millions ahead

Despite the fraud finding, no one was criminally charged. Iliopoulos was arrested but released without charge after a no-comment interview, and by refusing to engage with London litigation he escaped the process. He shed a rusting, money-losing tanker and roughly $60m of loans, leaving him arguably tens of millions of dollars better off.

  • Iliopoulos was arrested for fraud but released without charge
  • By refusing to play the litigation game he extricated himself from the process
  • He was freed of an aging money-losing ship and ~$60m in loans
  • No one has been charged with Mockett's murder

He's probably at least tens of millions of dollars better off than he would have been if he hadn't sunk his own ship.

Kit Chellel

Vasilios Vergos... his reply was a smiling, crying with laughter emoji.

Kit Chellel
#super-mario#justice#fraud#outcome