Pirates cut ransom for Saudi ship to $15m

MOGADISHU: Somali pirates holding a Saudi supertanker have reduced their ransom demand to $15 million, an Islamist leader and a regional maritime group said yesterday.

The largest hijacking in maritime history - the Sirius Star with $100 million worth of oil and a 25-member crew was seized on Nov 15 - has focused world attention on rampant piracy off the failed Horn of Africa state.

Scores of attacks this year have earned the pirates millions of dollars in ransom, hiked shipping insurance costs, sent foreign naval patrols rushing to the area and left about a dozen boats with more than 200 hostages in pirate hands.