The Indian cargo dhow Al Kausar that was hijacked by the Pirates in the Somali waters, with 11 crew memebers on board, has been taken to El Hur, near the port of Hobyo in Galmudug state, reported Reuters.
A pirate leader- Aw Kombe- while talking to the news agency, also indicated that the pirates are in touch with the businessmen in Kismayu and the negotiations for the release of hostages are on.
"The traders want the dhow be released without ransom but my friends say they may not release without at least some cash," he told Reuters. "They are still discussing."
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The Al Kausar was commandeered in the vicinity of Socotra Island while en route from Dubai to Puntland's port of Bosasso, according to United Kingdom Maritime Trade Operations (UKMTO), which coordinates shipping in the Gulf of Aden area, said the report.
The 62-metre long vessel was on a voyage from Dubai to the war-torn Yemen when it was hijacked by the pirates on Monday.
The high incidence of piracy had led to a group of insurers to declare an area very close to Indian waters as a high risk zone, which led to the levy of high risk premium that impacted sea trade.
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The premium was making imports costlier and exports uncompetitive, but the fall in instances of piracy had helped India to convince insurers in de-classifying the area as a high risk one.
