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Somali Pirates Release Chemical Tanker

9:19 AM MST | November 24, 2008 | Ian Young

Somali pirates released a chemical tanker and its 22-member crew last week after the pirates received a $1.1-million ransom, reports say. The pirates had held the vessel, Stolt Valor, since mid-September, when it was seized in the Gulf of Aden. The vessel is on time charter to Stolt Tankers, a Stolt-Nielsen subsidiary, and it is owned by Central Marine Co. (Tokyo). “The owners worked continuously with the assistance of the relevant authorities and professional negotiators to secure the release of the vessel and the crew members,” Stolt-Nielsen says...

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