Also if anyone here is actually interested in the problem beyond the knee jerk reaction phase, theres a book out called Dangerous Waters. It was released in 2002 and is about the huge piracy problem in the Straights of Malacca, just south of Singapore.
The book answers the question of how exactly a small band of pirates can cripple a freighter as long as a skyscraper is tall. Quick overview though:
A) High efficiency boats = less crew = less costs & less protection
B) Boats are generally fairly low to the water, 15-20 feet down to the sea, an easy climb for a sailor
C) Minimum of safety measures, again to save on costs but also because the industry simply has not saw fit to change its ways yet in response to the new era of piracy
D) Arming crews is frowned upon in the industry. Amongst other reasons, any boat that comes into a port bearing weapons must register them with the authorities. This takes time in an industry where every hour lost cuts into profits.
As to why there are pirates in the first place, its simple. The benefit-to-risk ratio is astronomically in favor of the pirates. We hear mostly about the hijackings which are potentially massively lucrative, but way more common are simple cases of theft. If a somali gets his hands on the crew's cash and the stuff in the lockbox thats literally a treasure trove.
The international community has in fact been mobilised on this matter, and in no way are the Americans alone out there "policing the world" as some people on these forums will undoubtedly whine about. The sad fact is, however, that Somalia's failed state status will make any inroads extremely difficult.
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