Drawback: The international navies in the area say the stretch of the Indian Ocean and Gulf of Aden they have to cover is simply too large.
Solution: On-board security
Drawback: But many in the industry fear that armed guards will prompt more violence from the heavily armed and battle-hardened pirates.
Solution: Evasive action
Drawback: Norway's Odfjell has ordered its fleet of 90 ships to sail all the way around Africa to avoid the Gulf of Aden and other shipping firms may follow suit. But that means longer, more expensive journeys.
Solution: Military action against pirates' land bases
Drawback: Foreign governments are reluctant to get drawn into the bloody chaos of Somalia, which has been fighting a civil war for almost two decades, and risk driving the pirates into a dangerous alliance with Al-Qaeda militants in the country.