Economic Calendar

Wednesday, November 19, 2008

Somali Pirates Seek Ransom for Hijacked Saudi Tanker, AFP Says

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By Michael Heath

Nov. 19 (Bloomberg) -- Somali pirates who hijacked a Saudi Arabian oil supertanker have demanded a ransom, Agence France- Presse reported, citing a man who was presented on Al-Jazeera television as one of the organizers of the attack.

``Negotiators are located on board the ship and on land,'' AFP cited the man, identified as Farah Abd Jameh, as saying. ``Once they have agreed on the ransom, it will be taken in cash to the oil tanker,'' he said, without giving the amount to be paid.

The Sirius Star, filled with 2 million barrels of crude oil, was hijacked off east Africa and is currently anchored close to the coast of Somalia. Saudi Arabia's state-owned shipping line, Vela International Marine Ltd., said it has set up negotiation teams to free the vessel and its crew of 25.

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net.




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