What is the best way to deal with pirates?

The kidnapped crew of a UAE-owned ship hijacked by Somali pirates is pleading for humanitarian intervention as negotiations for their release enter a fifth month. Though international forces patrol shipping lanes, the ocean is too vast to keep watch on every vessel, all the time. How do you think the problem of piracy could be better handled? Should governments mandate private security forces aboard all vessels? Should the international community step up anti-piracy efforts in Somalia and its waters? Should governments ever negotiate with pirates?