Tag: ransom

Offering $2.1 million ransom to pirates for their release Efforts have been expedited for the release of seven Pakistani sailors in custody of Somali pirates. According to details, Citizens-Police Liaison Committee (CPLC) chief Ahmed Chinoy has reached Somalia and reportedly offered the pirates $2.1 million ransom for the release of Pakistani nationals, reported a private news channel on Monday.Somali pirates have demanded $8 million for the release of a Malaysian ship and its 21-member crew, including seven Pakistanis. The pirates have shown inflexibility on ransom amount. The CPLC chief has met popular leaders of Somalia in order to find ways to have Pakistanis freed.The ship was travelling from Karachi to Kenya when it was hijacked by the pirates. In July, Somali pirates had released the Merchant Vessel Suez after keeping the crew hostage for more than 10 months.Source: AP

There is an increase in the number of kidnappings and ransom in recent years With pirates striking with alarming regularity and Naxal menace on the rise, the demand for kidnap-&-ransom (K&R) insurance policies from the corporates is on the rise.K&R insurance provides coverage for abduction and other events through a combination of financial compensation, including paying the ransom and extortion money, and expert crisis management service. "We have seen corporates with operations in Maoist-infested areas buying these policies," said G Srinivasan, chairman and managing director, United India Assurance. Hit by piracies on the high seas, shipping companies, too, are now buying K&R policies, said a senior official of ICICI Lombard General Insurance."We have seen demand for K&R policies from shipping companies picking up," he said. Normally, international shipping companies take these covers, but, of late, Indian companies, too, are buying them, said Srinivasan.There has been a discernible increase in the average ransom payment in the recent years.The number of kidnappings has also risen. Insurers say that while, earlier, hardly 100 such policies were sold in a year, now the number has crossed 300. Companies which offer such policies are New India Assurance, United India Assurance, Tata Aig General Insurance and ...

Pirates received a $3.5 million ransom Somali pirates have freed a Greek-owned bulk carrier held off the Horn of Africa coast for seven months after a multi-million dollar ransom was air-dropped to secure its release, a pirate source and local maritime expert said on Friday."We have received a $3.5 million ransom and abandoned the ship," a pirate who identified himself as Hussein told Reuters by telephone from the coastal village of Ras Bina.Pirates hijacked the Panamanian-flagged MV Dover in late February about 260 nautical miles north east of Salalah in Oman, taking the 23-strong crew hostage."The MV Dover is free. She is currently steaming out to safe waters," confirmed Andrew Mwangura, maritime editor of the Somalia Report and a former regional maritime official.Mwangura said there was no immediate word on the crew's well-being.Somali pirates in the past have typically not harmed crew members during ransom negotiations with ship owners, but shipping companies say the armed gangs are becoming increasingly violent.The lawless nation has been mired in violence and awash with weapons since the overthrow of a dictator two decades ago, allowing piracy to flourish off the lawless nation's shores.Preying on merchant vessels and pleasure boats, the pirates rake in tens ...

For the safe release of the vessel and its crew of 23 Pirates holding the MV Albedo, which was hijacked 10 months ago, are reportedly demanding a ransom of $8million for the safe release of the vessel and its crew of 23, consisting of seven Sri Lankans, five Bangladeshis, two Indians and seven Pakistani seafarers. The vessel is owned by a Malaysian company called Majestic Enrich Shipping, according to reports.The MV Albedo was attacked by pirates on November 26th, while underway some 239nm West of the Maldives in the Indian Ocean. She was en route to Mombassa with a cargo of containers. Earlier this year, the vessel's owner told SomaliaReport.com that a ransom of $3.4million had been demanded for its release.Source: Neptune Maritime Security

Following payment of a ransom M/V EAGLE released from pirated controlFollowing payment of a ransom, the M/V EAGLE, which was pirated on 17 January 2011 in position 490 nautical miles South of Salalah, Oman has recently been released from pirate control off the coast of Somalia. The ship is now on her way to a safe port.The Cypriot flagged and Greek owned M/V EAGLE, deadweight of 52,163 tonnes and a crew of 24 Filipinos was on passage from Aqabar (Jordan) to Paradip (India) when it was attacked.Source: EU NAVFOR

The pirates are demanding $4 million for their release Family members of the South African couple captured by pirates off the Somali coast almost a year ago on Monday said they are growing increasingly desperate to have them released.Bruno Pelizzari and Deborah Calitz were taken hostage when their yacht was hijacked in the Gulf of Aden.The pirates are demanding $4 million for their release.Calitz's daughter Kerri-Ann Cross said the family is feeling completely powerless at the prospect that they might never see their mother again."Its completely out of our control, there is nothing we can do. Its horrible, we don't know where they are and how they are doing," she said.The pirates are demanding a ransom of R28 million for the couple's release, an amount their families is suggesting that they cannot pay.Government's policy is not to pay ransoms.Meanwhile, an online and SMS campaign to raise the funds has now been started.Source: Eye Witness News

Paying ransom to Somali pirates for the safety of the 24 crew members Vietnamese shipping firm Hoang Son paid $2.6m in ransom to Somali pirates in exchange for the safety of 24 crew members.Nguyen Truong Son, deputy general director at Hoang Son, revealed the payment after the crew members returned to Hanoi last Friday."We had to pay the pirates $2.6m. The money was from our own company," Son told reporters.He added that the Vietnamese sailors will undergo health checks, but gave no details about the piracy attack or the treatment of the crew.The 22,835-tonne bulk carrier Hoang Son Sun was attacked by pirates on 20 January and captured about 520 nautical miles southeast of Muscat, Oman.Source: Seatrade Asia

Demanding 50,000 as ransom for release of each fisherman Pirates kidnapped 15 fishermen and looted valuables worth Tk 5 lakh from 15 trawlers in costal Vedakhali area under Sharankhola uapzila here on Wednesday night.Witnesses said, a gang of 20/25 pirates of infamous Raju Bahini swooped on the fishing trawlers and looted fishing nets, fishes, leaving 10 fishermen wounded at around 8:00 pm.They kidnapped 15 fishermen along with one trawler and demanded Tk 50,000 as ransom for release of each fisherman.The pirates also threatened to kill the kidnapped fishermen if their demand is not met within a week, Sundarbans east zone divisional forest officer (DFO) Mihir Kumar De said.The kidnapped fishermen hail from Bagerhat, Barguna and Bhola districts.Earlier, on September 10, infamous Al-Amin Bahini kidnapped 45 fishermen along with seven trawlers and looted fishes and fishing nets from 50 trawlers worth about Tk 25 lakh from Fearway Boya, Meher Alir Char, Kochikhali and Narikelbaria areas under the upazila.Source: The Daily Star

After receiving a ransom Somali pirates have released a Mongolian-flagged bulk carrier they seized off the coast of Oman in January after receiving a ransom, pirates and a maritime monitoring group said.The 22,835-tonne Vietnamese-owned bulk carrier MV Hoang Son Sun was hijacked some 520 nautical miles southeast of the port of Muscat, with a crew of 24 Vietnamese nationals."Vietnamese-owned but Mongolia-flagged bulker MV Hoang Son Sun was released late Thursday after the Somali pirates had received a reduced ransom in the eight-month hostage case," Ecoterra International said in a statement."The vessel is meanwhile in safe waters and reportedly on her way to Salalah harbour in the south of the Sultanate of Oman. The owner-manager, however, remained tight-lipped about the condition and fate of the crew."A pirate also confirmed the release."I don't know how much ransom they received, but the ship has been released unexpectedly. We were told yesterday that it's gone for hunting, but they were releasing it that time," a pirate who gave his name as Awil told Reuters late on Friday night from El-Dhanane coastal village.Pirates are raking in tens of millions of dollars in ransom from seizing merchant ships in the region, despite the efforts by foreign ...

A ransom of $4.5m was paid A ransom of $4.5m was paid to set the 22,800-dwt Hoang Son Sun (built 1984) free, TradeWinds is told.According to Reuters the vessel is now in safe waters and is on its way to Salalah, Oman.A pirate told the newswire the release of the Hoang Son Sun was unexpected, suggesting it had earlier been thought the ship was set to be put to work as a mother ship.The bulker, controlled by Hoang Son Co, was taken in January 370 miles east of Oman. A crew of 24 Vietnamese nationals were on board.Source: Tradewinds