Port Said–A source at Egyptian shipping company Red Sea Navigation, operator of a ship hijacked last week by Somali pirates, said the company had engaged the help of Somali mediators to resolve the crisis and negotiate a ransom within 48 hours.
The source stressed, however, the company's refusal to pay an "excessive" ransom.
Speaking on condition of anonymity, the source said the pirates would not harm the crew, since the crew's well-being represented their only means of leverage in negotiations.
He went on to point out that the pirates operated clandestinely so as to avoid detection by satellite and anti-piracy forces.
Translated from the Arabic Edition.
