Somalia

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...

When a powerful "sonic cannon" was not "effective" in repelling Somali pirates during a high-seas showdown Wednesday, armed guards successfully battled off the marauders the good old-fashioned way -- with firearms, said Vice Adm. William Gortney, who commands the Pacific region for the U.S. Navy....

The recent capture and subsequent freeing of Capt. Richard Phillips has, once again, drawn world attention to Somalia. The beleaguered African nation, which has an ineffective central government, has become a regional staging-ground for piracy, and has emerged as a major threat to shipping in and...

Yo ho ho, and a freighter of munitions. Self styled amateur pirates have a strangle hold on the active shipping routes off the shores of Somalia. They are reaping multi-million dollar booty for their exploits. Reports state that Somali pirates are currently holding as many as a dozen ships for...