A Somali pirate has been ranked alongside a billionaire trade magnate and the Chinese transport minister as among the most powerful people in shipping.

The Lloyd's List ranking of the 100 top people in the global shipping business is one of the most respected sources in the industry.

Although he is placed fourth, the gun-toting pirate's real name isn't even known - he uses the moniker Garaad Mohammed, the Daily Express reports.

Richard Meade of Lloyd's List said: "Mohammed's position is representative of the influence that pirates currently hold over the shipping industry."

It comes just weeks after Somali pirates freed retired British couple Paul and Rachel Chandler after being held for over a year.

Chinese transport minister Li Shenglin tops the list. In second place is Nils Andersen, chief executive of Maersk, with billionaire shipping magnate John Fredriksen ranked third. (ANI)