The UN's maritime agency has launched a new drive against piracy amid concerns that the seizing of ships by Somali pirates is outstripping international attempts to stop them.

"Piracy seems to be outpacing the efforts of the international community to stem it," United Nations Secretary-General Ban Ki-moon said in a speech at the launch of the International Maritime Organization's (IMO) initiative in London.

The plan aims to increase pressure at a political level to secure the release of all hostages being held by pirates and promote greater coordination between navies.

Ban said ransom payments running into hundreds of millions of dollars had created a "pirate economy" in some parts of largely lawless Somalia. "The threat to international trade routes is clear," he said.

The IMO said 67 ships were hijacked off the coast of Somalia in the past 12 months alone, while a total of 714 seafarers are still being held for ransom on board 30 ships along the eastern African country's extensive coastline.

The plan loosely examines the issue of what form of justice the pirates should face if they are caught.

Yury Fedotov, the executive director of the UN Office on Drugs and Crime, said at the launch that the international community wanted to see "fair and efficient trials in Somalia and in regional countries".

A prison to hold convicted pirates has opened in Somalia, partly funded by Britain, and a second jail is at the planning stage.

Somali pirates are currently facing trial in several countries. Malaysia and South Korea could become the first Asian nations to prosecute Somali pirates, after their armed forces captured a total of 12 suspects in separate raids in January.

Source: AFP