Mohamed Sobhi, owner of an Egyptian cargo vessel hijacked last week in the Gulf of Aden, has refused to negotiate a ransom with the Somali corsairs currently holding his ship. “The ransom money could be used to finance terrorism,” he said. “Giving in to the pirates' demands will only encourage them to hijack more ships.” Sobhi went on to note that the ship had been insured against piracy and that the Egyptian government was in the process of handling the situation. “It may take a little time, but ship and crew will be released soon,” he said. According to a source in Somalia, the recent appearance by relatives of captured crew members on satellite television--in which they appealed for the crew's release--could prompt the pirates to demand a larger ransom. The source went on to attribute the successful release of another ship owned by Sobhi, also hijacked by pirates earlier, to the fact that negotiations had been conducted privately and outside the glare of the media. Translated from the Arabic Edition.
