Talks at Advanced Stage for Release of Three Ships Held by Somali Pirates

Singapore, Jul 16: Negotiations for the release of three merchant vessels and their 44 crew members held by Somali pirates have reached an advanced stage, shipping industry sources said on Thursday. According to sources familiar with the discussions, the negotiations involve the countries where the vessels are registered, ship owners and insurance companies. The talks are being conducted confidentially due to concerns over the safety and security of the crew. The sources said insurers are closely coordinating the process, as any ransom payment must comply with international sanctions. Authorities are verifying the identity of recipients against sanctions lists maintained by the United Nations, the United States, the United Kingdom and the European Union to ensure no sanctioned entity receives the funds. “Ransoms are paid on humanitarian grounds, but international sanctions laws must not be violated,” one source said. The three hijacked vessels—oil tankers Honour 25 and Eureka, and cargo ship Sward—were seized in separate piracy incidents between April and May off the coast of Somalia and in the Gulf of Aden, according to reports by the International Maritime Organisation (IMO). Industry sources said shipping companies are increasingly avoiding piracy-prone waters and the Strait of Hormuz, resulting in higher freight charges and increased wages for seafarers willing to operate in the region. Meanwhile, the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre warned of a resurgence of piracy in the Western Indian Ocean. ReCAAP Executive Director Vijay D. Chafekar said a series of piracy attacks on merchant vessels and tankers had been reported since the escalation of tensions around the Strait of Hormuz. He said onboard security teams had, on several occasions, fired warning shots to deter pirates attempting to board ships. While some attacks were foiled, pirates managed to hijack at least three vessels, which are currently believed to be held off the Somali coast. Despite the rise in piracy in the Western Indian Ocean, Chafekar said the Straits of Malacca and Singapore continue to remain relatively safe, with no incidents involving the killing or kidnapping of crew members in the ReCAAP-covered region for nearly a decade. According to ReCAAP, 35 incidents of piracy and armed robbery were reported across Asia between January and June 2026, a 64 per cent decline from the 96 incidents recorded during the same period last year. Most cases involved theft of ship equipment or stores, and no crew members were injured.