Modern-Day Pirates Swiping Black Gold

Jan. 13, 2005
The Paris-based International Chamber of Commerce is reporting a rise in oil tanker hijackings, particularly in the Arabian Gulf and the waters off southeast Asia. The hijackers reportedly beat up the crews, smash their navigation equipment, and leave ...

The Paris-based International Chamber of Commerce is reporting a rise in oil tanker hijackings, particularly in the Arabian Gulf and the waters off southeast Asia. The hijackers reportedly beat up the crews, smash their navigation equipment, and leave them stranded while the oil is transferred to other vessels.

"The Asian economic crisis is forcing pirates to switch their targets from general cargo vessels, whose business is slumping, to tankers carrying marine fuel oil," says Captain Pottengal Mukundan, director of the ICC's Maritime Bureau.

Popular Sponsored Recommendations

Power Your Facilities with a Wind Turbine and Save Big!

Jan. 22, 2024
Discover how the Inflation Reduction Act makes wind turbines a savvy investment for businesses and facilities. Unlock substantial savings and a greener future with EWT's cutting...

Executive Summary: Enterprise Resource Planning Manages Manufacturing Risk and Uncertainty in 2024

Jan. 4, 2024
Explore the future of manufacturing in 2024 by discovering how cloud-based ERP systems can help manufacturers thrive amidst supply chain disruptions and economic uncertainty.

S&OP Optimization: Data-driven Strategies to Achieve Sustainable Profitability

Feb. 6, 2024
Through collaborative S&OP, manufacturers can balance demand and supply effectively, optimize resources, and capitalize on emerging market opportunities. Learn how to maximize...

Optimizing Connected, Resilient Supply Chains in 2024

Dec. 19, 2023
Discover how manufacturers fortify supply chains amidst change, explore the 2024 manufacturing industry outlook and delve into Gen AI for resilient supply chains.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!