Pirates Claim $8 Million Ransom
By VENETIA ARCHER
Somalia Report sources have reported that MT FAIRCHEM BOGEY was released yesterday afternoon, for an estimated $8 million. The ransom is on the higher end of the spectrum of usual payouts, particularly for a vessel carrying just a partial load of methanol.
Pirates are predisposed to exaggerating the amounts they receive, given it is in their interest to drive up prices. The vessel's release was negotiated quickly, however, just five months
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