Anthony Sharp, pirate hunter

Somalian pirates cost shipping £12bn every year. Now Anthony Sharp and his who's who of former military top brass have set up Typhon - an escort service through the dangerous waters.

Governments and ship-owners have been wringing their hands for years about the problem of piracy off the Somali coast. One British entrepreneur has a solution, says Jonathan Sibun in The Daily Telegraph. Anthony Sharp plans to launch a private navy, boasting it "will be the first of its kind for probably 200 years".

Sharp has assembled a stellar cast to support the venture, Typhon'. The chairman is Simon Murray the former French Foreign Legionnaire who also chairs commodities giant Glencore and the board is heaving with retired top brass.

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