Middle East Economic Survey
VOL. LIII
No 47
22-Nov-2010
SOMALIA
Pirates Release Korean Oil Tanker For Record Ransom
The oil tanker Samho Dream has been released by Somali pirates after payment of a record ransom of close to $9.5mn, following months in captivity off the Somali coast. The South Korean-owned vessel was hijacked by pirates in the Indian Ocean on 4 April while in transit from Iraq to the US, carrying a cargo of crude oil estimated at 1.5bn barrels and worth $170mn as well as a...
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