The Reading Room

Between the Devil and the Deep Blue Sea
Colin Freeman
Published: 2021
Between the Devil and the Deep Blue Sea is a narrative of tragedy, extreme hardship, and bravery. Using first-hand accounts taken from the survivors, Freeman tells the story of 3 cargo ships and their crews kidnapped by Somali pirates and held hostage for five years, and in some cases longer. Ultimately though it is a tale of humanity’s enduring spirit of survival and the decency of a few individuals with little to gain, and much to lose, who take up the cause of the hostages, abandoned by everyone but their families. “Everyone” includes ship owners, insurance companies, governments, and international rescue agencies and charities.
John Steed, a retired British Army Officer working for the United Nations in Africa, breaks with convention, international policy on hostage negotiation and common sense to set about negotiating the release of the hostages. Focusing on just one of the three ships in detail, whilst referencing the other two, Steed undertakes the task of winning the trust of the captors to broker a deal. Using intermediaries about whom he knows little and trusts less he sets about negotiating a plausible ransom figure (a figure that has some slim chance of being raised), whilst using whatever means he can to appeal for donations from whatever source for the cause.
Of course, the intermediaries he works with are also “in it” for themselves and Steed has no real idea where the “hidden agendas” lie. On the other side of the bargain are Governments and International Agencies refusing to pay ransom monies, making Steed’s task of raising sums anywhere close to the captors’ expectations an almost impossible task. Steed soon realises that he is an amateur playing professionals’ poker when he is hoodwinked, not by the pirates, but by a German purporting to have the financial backing of charities willing to pay the ransom. Believing this to be the breakthrough they have been yearning for he opens the bidding, raising the expectations of the increasingly fraught pirates, soon to realise, he has nothing to offer.
The book also focuses on key characters on both sides. An Indian born seaman who wins the confidence of a Somali pirate, by learning the language which ultimately provide the breakthrough, as well as the ship’s Captain who continues to look out for his crew, whatever the price. Freeman talks to the families of the forgotten victims and how they coped with the absence of their loved ones.
For those of you who have seen the Hollywood blockbuster Captain Phillips, this will feel a little mundane by comparison perhaps. But the real value is in understanding the heroic characters who lived through every tortuous minute, both during and afterwards. Unsung heroes, forgotten then and barring this book, forgotten once more.
David Cornell
February 2022
The information contained above and in other entries in the Ocean Dial Book Review Series is intended for general information and entertainment purposes only, and should not be relied upon in making, or refraining from making, any investment decisions. No information provided herein should or can be taken to constitute any form of advice or recommendation as to the merits of any investment decision. You should take independent advice from a suitably qualified investment adviser before making any investment decisions.
Boom and Bust: A Global History of Financial Bubbles
Published: 2020, Cambridge University Press
The avoidance of buying into the peak of booms and selling at the bottom of a bust is one of key skills of any investor. But what causes them? This book attempts to answer that question by a close analysis of historical market manias.
The Election That Changed India
Published: 2014
The 2014 Indian general election has been regarded as the most important in Indian history since 1977, following Indira Gandhi’s imposed state of emergency in 1975.
It starts in 2012, when Narendra Modi won the Gujarat state elections for a third time, but quickly set sights on the bigger prize, then covers the scandals that crippled UPA-II (United Progressive Alliance, the ruling coalition), before moving to the strategies of team Modi, and the extraordinary missteps of Rahul Gandhi.
The Innovator’s Dilemma: When new technologies cause great firms to fail
Published: 1997
Innovation expert Clayton Christensen explains why most companies miss out on new waves of innovation. No matter the industry, he says, a successful company with established products will get pushed aside unless managers know how and when to abandon traditional business practices.