Advanced Negotiations Underway for Release of Three Ships Seized by Somali Pirates: Sources

Singapore: Ransom negotiations for the release of three merchant vessels and their 44 crew members held by Somali pirates have reached an advanced stage, shipping industry sources said on Thursday.

The confidential talks involve the vessels’ flag states, shipowners, and insurance companies, with discussions kept private to safeguard the crew. Sources said insurers are coordinating the negotiations, as any ransom payment must be reviewed to ensure compliance with international sanctions.