Chinese authorities, owners hold ransom talks with pirates

BEIJING authorities and shipowners are reportedly holding ransom talks with pirates over the release of the Cosco-operated 76,000-ton coal carrier De Xin Hai, and its 25-man crew taken two weeks ago off the Seychelles and now moored near Somalia.

The ransom amount will not be made public, reported Hong's Kong's South China Morning Post, citing Zhang Zuyue, secretary general of the Chinese Shipowners' Association.

Roger Middleton, a specialist in Somali piracy at the independent London consultancy Chatham House estimated the ransom would likely be in US$1 million to $2 million range.

China has two frigates and a supply ship in the area, but "foreign diplomats" told the newspaper that PLA naval forces were unlikely to engage the pirates while they held the ship and its crew.

The vessel, owned by Beijing and Qingdao Ocean Shipping, was enroute to India from South Africa.

China has held talks securing the release of the fishing boat Tianyu No 8 and its 24-man crew in February, which involved Chinese diplomats in Djibouti and Ethiopia, and Foreign and Agriculture ministries as well as efforts of the Tianjin municipal government.

(Source: www.schednet.com)