Jan. 6 (Bloomberg) -- A private navy founded by companies led by Glencore International Plc will protect its first convoy of oil tankers and bulk carriers from Somali pirates in the Indian Ocean in late March or April, the Sunday Times reported, citing an interview with Glencore Chairman Simon Murray.
Typhon, a venture formed by a group of U.K. businessmen led by Murray, will recruit 240 former marines and sailors for its navy, the London-based newspaper reported.
The force was set up because the U.K.’s Royal Navy, NATO and the European Union Naval Force don’t have enough vessels to patrol the area, the Sunday Times said.
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