Middle East Economic Survey


No 4



Pirates Release Greek Oil Tanker After Ransom Paid

Somali pirates have released a Greek-owned tanker that was hijacked on 29 November in the Gulf of Aden, carrying some $20mn worth of crude oil. The 300,000 dwt Maran Centaurus, operated by Maran Tankers Management, was released on 18 January with its cargo and crew of 28. Reports estimated the ransom paid at $5-7mn, one of the highest sums paid to Somali pirates. The firm said it does...