Cash Approval by Owners of a Saudi product tanker hijacked by Somali pirates
Owners of a Saudi product tanker hijacked five months ago by Somali pirates is set to pay the $20m ransom, according to a report in Arab News on Monday.
Kamal Arri, manager of International Bunkering, the company which owns the Al Nisr Al Saudi ship, told the paper the insurance company had agreed to pay the ransom after the Saudi Arabian Monetary Agency (SAMA) gave preliminary approval.
We are now waiting for the Interior Ministrys approval, he told the paper.
Source: Arab News