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Voa News

30 Jan 2011

Egyptian Crisis: Could it Spill into the Suez Canal?

As analysts continue to try and gauge the full economic impact of the fast-evolving political and social crisis in Egypt, the concern of the shipping industry are centered on the Egypt controlled Suez Canal, a transport route for a substantial amount of the world's energy, with more than 35,000 ships passing through the Suez annually, approximately 2,700 of them tankers. Worries regarding potential canal disruption stem in part from the the Egyptian government's cut-off Internet and mobile telephone service in the country on Friday. Shares in tanker companies surged on Friday on fears of a Suez shutdown. If that were to happen, many ships would have to make more costly trips around the southern tip Africa to reach their destinations, yielding more revenue for the shipping interests.

10 Sep 2010

U.S. Marines Storm Pirate-Held Ship off Somali Coast

According to a report from AP and VOANews.com, The U.S. Navy said Marines stormed a pirate-held ship off the coast of Somalia on September 9 and reclaimed control of the vessel. The U.S. Fifth Fleet said the Marines boarded and seized the German-owned MV Magellan Star, capturing nine alleged pirates who hijacked the ship the day before.  No injuries were reported. (Source: Associated Press, Voice of America News)

04 Jan 2010

Two Ships Seized Off Somali Coast

According to a Jan. 2 report from Voice of America News, authorities say Somali pirates have hijacked a British-flagged cargo ship transporting cars and a chemical tanker from Singapore. The cargo ship Asian Glory was reported to have been hijacked along with 25-member crew late on Jan. 1, about 1,000 kilometers east of Somalia. Earlier that day pirates were also reported to have seized the chemical tanker Pramoni in the Gulf of Aden. The Pramoni's crew includes 17 Indonesians, five Chinese, one Vietnamese and one Nigerian. According to the report, maritime officials say Somali pirates are currently holding more than 10 foreign vessels and more than 200 crewmen hostage. (Source: VOANews.com)

18 Oct 2009

Somali Pirates Seize Singapore Ship

According to an Oct. 15 report from VOA News, Somali pirates have hijacked a Singapore-owned and flagged container ship in the Indian Ocean. The MV Kota Wajar was seized early Oct. 15 about 550 kilometers north of the Seychelles islands. (Source: VOA News)

17 Jul 2009

Somali Pirates Abandon Indian Ship

According to a July 15 report from VOANews.com, Somali pirates abandoned an Indian after using it to attack a Liberian flagged oil tanker in the Gulf of Aden. It was reported that the ship’s 14 crew members were unharmed. (Source: VOANews.com)

15 Jul 2009

Somali Pirates Hijack Crude Carrier

Somali pirates have recently hijacked an Indian ship and used it to launch an unsuccessful attack on a Liberian-flagged oil tanker in the Gulf of Aden, according to VOA News. The large crude carrier Elephant is similar to the Saudi-owned Sirius Star that Somali pirates hijacked in November 2008 and held for two months. The hijacking of the Indian ship brings the number of vessels being held by Somali pirates to at least 15. The United States, China, NATO and other world powers are conducting naval patrols off Somalia in an effort to protect commercial shipping.

05 Sep 2006

China Oil Producer Sees Profits Soar

China's top offshore oil and gas producer, CNOOC, has posted a 38 percent jump in earnings for the first half of the year. The better-than-expected results were driven by soaring energy prices and higher output, according to a report on www.voanews.com. Oil and gas production at the state-owned company increased by more than seven percent in the first six months of 2006 compared to a year earlier. CNOOC's chairman Fu Chengyu says the company achieved breakthroughs in its overseas business development. Fu says CNOOC completed the acquisition of a 45 percent stake in a Nigerian oil block and also extended its exploration activities to Equatorial Guinea, Australia and Kenya. China's second-largest lender, the Bank of China, also posted positive interim results.