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Edition: U.S. Article Comments (0) Slideshow Save Email Print Reprints Most Popular Most Shared Strong quake shakes cities around U.S.-Mexico border 2:58am EDT China quiet on U.S. currency report delay | Video 2:41am EDT Asian stocks rise on strong U.S. jobs data | Video 2:49am EDT Buffett's Berkshire is best-regarded U.S. company 04 Apr 2010 Over 100 pulled alive in China mine "miracle" | Video 3:22am EDT Strong quake shakes cities around U.S.-Mexico border 2:58am EDT China quiet on U.S. currency report delay | Video 2:41am EDT Asian stocks rise on strong U.S. jobs data | Video 2:49am EDT Buffett's Berkshire is best-regarded U.S. company 04 Apr 2010 Over 100 pulled alive in China mine "miracle" | Video 3:22am EDT South Korea sends destroyer after pirates seize tanker Cho Mee-young SEOUL Sun Apr 4, 2010 11:49pm EDT Related News Valero confirms ownership of cargo on hijacked VLCC Sun, Apr 4 2010 Valero confirms ownership of cargo on hijacked VLCC Sun, Apr 4 2010 U.S. Navy captures pirates in clash off Seychelles Thu, Apr 1 2010 U.S. Navy captures pirates in clash off Seychelles Thu, Apr 1 2010 Turkish commandos seize 9 pirates in Gulf of Aden Thu, Apr 1 2010 < 1 / 2 > View Full Size SEOUL (Reuters) - South Korea has sent a destroyer to intercept a supertanker carrying as much as $170 million worth of crude oil that was seized by Somali pirates, officials said on Monday. World | South Korea The South Korean-operated, Singapore-owned Samho Dream, which can carry more than 2 million barrels of crude oil, was hijacked on Sunday en route from Iraq to the United States, in the latest sign the sea gangs are targeting bigger quarry. "The government has dispatched our Cheong-hae naval unit to the waters of the Indian Ocean, where the ship hijacked by Somali pirates is assumed to be," the Foreign Ministry said in a statement. South Korea's anti-piracy Cheong-hae unit has a destroyer in the area to protect its commercial vessels. Local media said the destroyer, which can travel faster than the supertanker, would be able to reach the ship before it could reach any port. The tanker's crew of five South Koreans and 19 Filipinos was taken hostage when it was seized about 1,560 km (970 miles) east of the Somali coast. "We can't reach the crew at all," said an official at SGSM, a subsidiary of Samho Shipping, which operates the tanker. Texas-based refiner Valero Energy Corp said it was the owner of the crude oil cargo, which was bound for the U.S. Gulf Coast. "Asian importers including Korean will see little impact as their crude oil imports from the Middle East are moving in the opposite direction. U.S. importers will have problems," said a trader at the country's biggest oil refiner SK Energy. INSURANCE COSTS Increasingly brazen pirate activity has driven up insurance costs, forced some ships to go around South Africa instead of through the Suez Canal, and secured millions of dollars in ransoms. A Nairobi-based maritime group said the tanker had been seized by Somali pirates, and a pirate source named Mohamed said the ship was now heading for Haradheere, the port and pirates' base at which many ships are held during ransom negotiations. While attacks in the Gulf of Aden and the Indian Ocean have become an increasing risk for all vessels in recent years, it is rare for pirates to successfully seize the kind of massive supertankers that carry most Gulf crude to refiners. The first successful assault on a very large crude carrier (VLCC) occurred in late 2008 when pirates took the Saudi-owned Sirius Star, the biggest ship hijacking to that date. Another, the Greek-flagged Maran Centaurus, was seized last November and held for nearly two months until a ransom believed to be between $5.5 million and $7 million was paid. The 319,000 deadweight tonnage Samho Dream, which was built in 2002, is carrying crude oil that could be worth as much as $170 million at current oil prices. It holds the equivalent of more than one day's worth of Iraqi exports. (Additional reporting by Jack Kim and Christine Kim in Seoul and Erwin Seba in Houston; Writing by Jon Herskovitz; Editing by Alex Richardson) World South Korea Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. More from Reuters Strong quake shakes cities around U.S.-Mexico border MEXICALI, Mexico (Reuters) - Roads were torn up, buildings cracked and electricity posts toppled on Monday after a 7.2 magnitude earthquake shook cities in northern Mexico and Southern California, but few casualties were reported. China quiet on U.S. currency report delay | Video Asian stocks rise on strong U.S. jobs data | Video Buffett's Berkshire is best-regarded U.S. company Over 100 pulled alive in China mine "miracle" | Video Australia battles to stabilize Barrier Reef ship » More Top News Inside the "Devil's Casino" A new book on the posterboy of the financial crisis unearths a goldmine of gossip about poisoned friendships and Richard Fuld's fatal flaw. Full Article The temptations of a fund manager Economy Vying to fund Foursquare Venture Capitalists are obsessed with the new location-based social media service "Foursquare" and are jockeying to throw money at the start-up. 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