Oil tanker captured off Somalia

2008-11-18

in Bombs and rockets, Economics, Rants, Security

Yesterday, Somali pirates seized a Saudi Arabian oil supertanker, carrying about two million barrels of oil. It is a tangible demonstration of just how insecure marine traffic in some parts of the world has become. According to the Associated Press, “piracy is considered the most lucrative work in Somalia.” It is estimated that pirates have taken in $30 million in ransoms this year.

As discussed here before, piracy is a growing challenge for private shipping firms and the world’s navies. In the end, maritime insecurity derives from the lack of security on land. Pirates need means to acquire arms and recruits, as well as means to collect and launder ransoms and sell stolen goods. In the end, it is just another reason for which failed and failing states are of global concern.

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. November 18, 2008 at 11:35 pm

Somali pirates seize another ship

Somali pirates have struck again in the Gulf of Aden, hijacking another ship a day after seizing a Saudi oil supertanker with a cargo worth $100m.

The Delight, a Hong Kong-registered vessel carrying 33,000 tonnes of wheat, was sailing to Iran with 25 crew members when it was seized, Chinese state news agency Xinhua said.

. November 20, 2008 at 6:17 pm

Somali pirates demand 25 million dollars for Saudi oil tanker
13 hours ago

MOGADISHU (AFP) — Somali pirates who hijacked a Saudi oil super-tanker demanded a 25 million dollar ransom Thursday amid calls for tougher action to end threats to one of the world’s key maritime routes.

As global frustration built and a major shipping company ordered some of its vessels to avoid the Gulf of Aden, the pirates set a 10-day deadline for the ransom payment for the ship they easily seized in 16 minutes.

“We are demanding 25 million dollars (20 million euros) from the Saudi owners of the tanker. We do not want long-term discussions to resolve the matter,” a pirate who identified himself as Mohamed Said said from the ship.

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