Going on the Account: Oily Pirates Ahoy!

Word this morning came in about the seizure of the Maran Centarus. While her capacity is for 300,000 tons, there’s no confirmation how much oil she was carrying when they seized her, though considering she was en route from Saudi Arabia to the US it’s probably likely she was fully loaded.

 

In addition to all the stated worries about environmental damage if she breaks apart during her captivity (and using live ammo atop an oil tanker is not on most people’s list of “safe and harmless activities”), there’s the potential for economic mayhem.  With oil this morning at $73/bbl and continued volatility in that market, a spectacular failure could give a slight spike in the price, giving gas stations an excuse to jump pump prices drastically, which this holiday season would be the last thing the economy here needs.  It’s already been tough to predict how oil will behave, and this won’t make it any easier…

 

Word of this came just as it was announced that the Ariana was released, one out of a number still held.

 

Of course, one of the potential elements of the ransom for the Maran Centarus will be for the release of pirates held in captivity, which may surprise some folks who think that there are not that many out there.  With reports from the TIMES of pirates being let go after seizure, it’s hard to argue there’s anyone in the brig to trade for oil…

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