Middle East Economic Survey
VOL. LIV
No 16
18-Apr-2011
REGIONAL
Somali Pirates Release Greek Super-Tanker After Record Payout
Fifty-eight days after a Greek-flagged tanker loaded with 270,000 tons (2mn barrels) of crude oil was seized off the coast of Oman by armed Somali pirates (MEES, 14 February), the vessels manager revealed that the Irene SL had been released. This was after its owners, NS Lemos & Co, agreed to pay a record-breaking $13.5mn in ransom money. It gives us great joy and...
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