Discover the Fortune-Boomy: Ratings & Maritime News

In a notable transaction, a vessel has been successfully sold to Taiwanese buyers for about $4.1 million. This sale highlights the ongoing demand and active participation of Taiwanese investors in the maritime market. As the maritime industry continues to evolve, such acquisitions are a testament to the competitive landscape in ship trading.

The oil and chemical tanker MT Liquid Velvet, which was taken hostage by Somali pirates on October 31, 2011, has finally been released on June 4, 2012. Raul Hernandez, spokesperson for the Department of Foreign Affairs (DFA), confirmed the news on Friday, revealing that the Marshall Islands-flagged, Greek-owned vessel is carrying a crew of 21 Filipino seafarers. Families of the crew members have been notified of the release by their local manning agency. Following its release, the tanker is currently en route to Salalah, Oman. The DFA has also coordinated with the Philippine Embassy in Muscat to ensure support for the crew upon their arrival at the Port of Salalah.

Tensions have escalated among Somali pirates following the hijacking of the tanker 'Liquid Velvet'. The security team known as the Ilaalo, assigned to protect the vessel, has refused to comply with directives from their higher-ups, leading to a significant conflict over ransom negotiations. This confrontation, which turned physical, came to light after the pirates were unable to reach a consensus on the ransom amount. Initially, on December 19, 2011, the pirates set a steep demand of $8 million for the release of the 'Liquid Velvet'. As discussions progressed, a split emerged between the on-board pirates and their investors. While those aboard were amenable to accepting any offers made by the vessel's owners, the investors firmly insisted on a ransom of no less than $8 million. Leading the hijackers is Aw-kowbe, a notorious figure hailing from the Bari region. In a surprising turn of events on February 3, 2012, the Ilaalo group barred the investors from accessing the ship and ignored their commands entirely. After taking control of the tanker, the pirates relocated it to the Somali coastline, eventually transferring custody to the Ilaalo group, which is merely tasked with guarding the ship and lacks the authority to engage in negotiations.