The MV Faina and cargo of Russian tanks extracts high price
Somali pirates are believed to have been paid $3.5m (£2.3m) ransom to release the MV Faina, hijacked four months ago laden with Russian tanks, The Times reports.
Andrew Mwangura, of the East African Seafarers Association, said that talks to free the Ukrainian-operated vessel and her 20-strong crew had concluded. “We hear they are counting the money but I don’t want to say any more until the crew is on dry land,” he added. “The ship could be released in the middle of the night or at daybreak.”
A businessman in the town of Galkayo said: “The crew will be free anytime from now.”
The business was worth up to $30 million last year, according to the Royal Institute of International Affairs.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
