Tanker with million barrels of oil is ablaze off Yemen after pirate attack
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Wed July 6, 2011 7:51 pm

INTERNATIONAL. An oil tanker carrying 1 million barrels of fuel oil was on fire off the Yemeni coast after being attacked by pirates.

The 274-meter (900-foot) Brillante Virtuoso was carrying the oil to China from Ukraine, said Andreas Louka, legal adviser to Suez Fortune Investment Ltd., the owner.

The crew of 26 are uninjured and the ship is being towed by two tugs, he said by phone from Athens today.

The vessel was attacked by pirates about 20 miles from Aden in southern Yemen while approaching the port to take onboard unarmed guards, Louka said. It was then scheduled to continue its journey to China, he said. The fire is in the accommodation block of the ship, which has a carrying capacity of 149,601 deadweight tons, according to data compiled by Bloomberg.

Pirates attacked a record number of ships worldwide in the first quarter, taking 344 sailors hostage and killing seven, according to the International Maritime Bureau. A total of 142 attacks were reported, the most for the period since monitoring began in 1991, the London-based IMB said in April.

Crude oil traded in New York, a global benchmark, rose 35% in the past 12 months.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: July 6, 2015
UAE. Business doesn't predict a plunge, London Business School survey finds; Only 3% of those surveyed expect an annual decline larger than 20%; Over a third cited a strong economic outlook.
date:Posted: July 6, 2015
INTERNATIONAL. Pretend and extend died last night, hopefully it will be replaced with a normal business cycle, normal ebbs and flows, but first politicians will try to save face by trying to do just one more round of pretend-and-extend, but the patient has died.
date:Posted: July 6, 2015
UAE. Marked slowdowns in growth of output and new business were at the forefront of the overall deceleration, while employment continued to rise at a solid pace.
INTERNATIONAL. Pretend and extend died last night, hopefully it will be replaced with a normal business cycle, normal ebbs and flows, but first politicians will try to save face by trying to do just one more round of pretend-and-extend, but the patient has died.
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