The New York Times - Maritime ‘Repo Men’: A Last Resort For Stolen Ships < 5min

Mr. Hardberger is among a handful of maritime “repo men” who handle the toughest of grab-and-dash jobs in foreign harbors, usually on behalf of banks, insurers or shipowners. A last-resort solution to a common predicament, he is called when a vessel has been stolen, its operators have defaulted on their mortgage or a ship has been fraudulently detained by local officials. ... Tens of thousands of boats or ships are stolen around the world each year, and many become part of a global “phantom fleet” involved in a broad range of crimes. Phantom vessels are frequently used in Southeast Asia for human trafficking, piracy and illegal fishing, in the Caribbean for smuggling guns and drugs, and in the Middle East and North Africa to transport fighters or circumvent arms or oil embargoes ... Usually the vessels are not recovered because they are difficult to find on the vast oceans, the search is too expensive and the ships often end up in ports with uncooperative or corrupt officials. ... sometimes, when the boat or ship is more valuable, firms like Mr. Hardberger’s Vessel Extractions in New Orleans are hired to find it. His company occasionally handles jobs involving megayachts, but more often the targets are small-to-medium cargo ships that carry goods between developing countries with poor or unstable governments.