Trade News > Trade Regulations > Security Regulations > Somali Pirates Release Bulk Carrier

Somali Pirates Release Bulk Carrier

The Journal of Commerce Online - News Story
Iran-based ship owner paid ransom of $4 million, according to reports

Somali pirates released the MV Sinin, a Maltese-flag bulk carrier, and its crew on Aug. 13 after 182 days in captivity, according to the Indian Shipping Ministry.

“All the 21 crew members, including nine Indians, are reported to be safe,” the ministry said.

Officials did not give any other details about the ship's release, but reports said the ship owner, Iran-based Isim Sinin, paid a ransom of $4 million.

The 52,466-deadweight-ton Sinin was hijacked by pirates Feb. 12 about 315 nautical miles east of Masirah, Oman, in the North Arabian Sea as it sailed from Fujairah, United Arab Emirates, to Singapore.

“The ship owners have provided for replenishment of stores/fuel and security for the vessel to reach Colombo, Sri Lanka, by around Aug. 19, where it is likely to be dry docked for extensive inspection”.

Reports also said the Sinin is currently managed by Tehran-based Irano Hind Shipping Company, which is a joint venture between Islamic Republic of Iran Shipping Lines and Shipping Corporation of India.

According to latest official figures, African pirates were estimated to be holding captive 51 Indian sailors on various foreign and Indian-flag ships.

Access Notice

The content you are trying to access is for paid Members of The Journal of Commerce only.

Click here to start your membership with a 30-day FREE trial. You'll get unlimited access to everything The Journal of Commerce has to offer.