NEW YORK ( TheStreet) -- With political unrest continuing across the Middle East and North Africa, a crucial entry point to the Suez Canal remains under siege as Somali pirates continue to land big game in the waters off the coast of Somalia.
On Wednesday, a gang of pirates hijacked a supertanker carrying a reported $200 million worth of crude oil. Called the Irene SL, the tanker has a crew of 25 and is owned by a private Greek shipping concern, First Navigation Special Maritime Enterprises. It was on its way to the Gulf of Mexico.
Despite a number of successful anti-pirate counterattacks over the last year by naval forces patrolling the region, piracy off Somalia hasn't abated. The Irene was the second supertanker nabbed by suspected Somali pirates in as many days.
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