Somali Pirates Hold Chemical Tanker

Pirates continue to hold a chemical tanker and its 22-member crew off the coast of Somalia, having seized the vessel in the Gulf of Aden in mid-September. The 25,269-dwt m.t. tanker, Stolt Valor, is owned by Central Marine Co. (Tokyo); on time charter to Stolt Tankers, a Stolt-Nielsen subsidiary; it is managed by Fleet Management (Hong Kong). The tanker was bound for Mumbai. Unconfirmed reports last week said that the pirates had demanded a $2.5-million ransom by October 16 to release the tanker, or they would start killing crew members. Somali pirates released...

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