Lucky Somali Pirates' Haul Was $120 Million Richer Than They Thought

somali-pirates-holding-oil-tanker-are-120-million-richer-than-they-thought
somali-pirates-holding-oil-tanker-are-120-million-richer-than-they-thought

Contrary to earlier published reports, the hijacked U.S.-bound oil tanker Maran Centaurus is carrying about $140 million worth of Saudi crude -- not the $20 million previously claimed -- DailyFinance has learned. Reached in Greece Tuesday, a representative for Maran Tankers Management, the ship's owner, confirmed that the Centaurus is carrying about 2 million barrels of oil.

At today's market rate of around $70 per barrel, that would mean the 1,085-foot supertanker is carrying $140 million worth of oil, said John van Schaik, the New York bureau chief for the Energy Intelligence Group, a leading industry authority. Previously, the Associated Press had reported that the ship was only carrying $20 million worth of oil. The correct number indicates that the pirates have a much more valuable cargo on their hands.