ALL these hostages would be released within 48 hours. Here's how:
1) Call the terrorists and tell them that we are planning to level each of their home towns, one every day, commencing in 48 hours, unless ALL hostages and ships are immediately released.
2) Drop leaflets over each town, announcing the bombing to commence within 48 hours, unless ALL hostages and ships are immediately released, and giving all residences exactly 48 hours to leave.
3) If they don't comply, level the first town with enough MOAB's to turn it into a broiling cauldron.
4) Repeat as necessary.
I like your plan!
Damn, I like how your mind works. That's the best solution I've seen on this issue, and it will work. On lots of levels, I might add.