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23 Oct, 2008 02:17

Owner of hijacked Ukrainian ship can’t afford ransom

The owner of a Ukrainian freighter hijacked off the Somali cost says he doesn't have enough money to pay the ransom. Earlier there were reports that the pirates were threatening to kill the crew being held captive on board.

The vessel, captured almost a month ago, is carrying tanks and ammunition. Food and water supplies for the crew are said to be running out.

The Faina's owner has hired a legal firm to conduct negotiations with the pirates.

On Monday, a U.S. Navy vessel near the ship released photos of the crew from Ukraine, Russia and Latvia. A Russian warship is on its way to the region to help fight piracy in the dangerous waters off the Somali coast.