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 31, 2014
UAE. Rotate into high-yield bonds which offer better value; Large IPOs could drain money out of stock markets and raise volatility ahead, says Emirates NBD investment chief.
date:Posted: July 31, 2014
INTERNATIONAL. One aspect of this war is that both sides apparently found it necessary, despite knowing it would have no definitive military outcome. The question therefore is not what the point of all this is but where all this ends.
date:Posted: July 31, 2014
UAE. Indonesia should lead the way in ASEAN markets over the next year; The best performing markets in the second quarter were Thailand and the Philippines; Health care strongest sector in ASEAN in Q2.
INTERNATIONAL. Israel mobilised 16,000 additional reservists Thursday to bolster forces fighting in Gaza as Washington gave its ally the go-ahead to raid stocks of emergency US weapons stored on Israeli soil.
dhgate