Sailors Fear Financial Crisis More Than Pirates The threat of Somali pirates is causing waves in many seafaring nations, but not in the Philippines. Filipino sailors say they are far more worried about the economic downturn than being held hostage. Video courtesy of Reuters. (Nov. 20) Sailors Fear Financial Crisis More Than Pirates The threat of Somali pirates is causing waves in many seafaring nations, but not in the Philippines. Filipino sailors say they are far more worried about the economic downturn than being held hostage. Video courtesy of Reuters. (Nov. 20) Somali pirates sailors Filipinos Phillipines piracy hostage financial crisis global crisis