S&P 500
1628.93
-22.88 -1.40%
Dow Indu
15112.19
-206.04 -1.35%
Nasdaq
3447.18
-35.00 -1.02%
Crude Oil
96.78
-1.70 -1.73%
Gold
1344.35
-2.52 -0.19%
Euro
1.32509
-0.00041 -0.03%
US Dollar
81.589
+0.249 +0.32%
Weak

Market Commentary and Intraday News

Somali pirates free Taiwan fishing vessel, 26 crew

336 days ago

(AP:TAIPEI, Taiwan) Taiwan's foreign ministry says a Taiwanese fishing vessel and its 26-member crew were freed after being held by Somali pirates for almost 19 months.

The ministry says the Shiuh Fu No. 1 was released Tuesday after the ship's owner completed negotiations with the hijackers. The ministry didn't say whether a ransom was paid, but analysts say Somali pirates often get ransoms averaging $5 million.

The Shiuh Fu was seized Dec. 25, 2010, off the Madagascar coast and taken to Somalia. Its crew comprises a Taiwanese captain, and 13 Chinese and 12 Vietnamese nationals.

The ministry says a Chinese navy ship took the crew to Tanzania, because the Shiuh Fu had run aground.

The European Union Naval Force Somalia says seven vessels and 211 hostages are still held by Somali pirates.


Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

INO.com on Facebook INO.com MarketClub on Twitter INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.