Somali pirates have released an Italian tugboat and its 16-member crew, seized four months ago, reports say.
While a report, quoting the pirates, said the Buccaneer was let go after receiving $4 million as ransom, Italy's foreign minister Franco Frattini said no ransom money was paid, and that the release was the result of "exceptional work" between Italian and Somali authorities.
The Buccaneer, owned by Ravenna-based Micoperi Marine Contractors, was hijacked April 11 in the Gulf of Aden, as it was towing two barges.
An Italian warship, with a contingent of naval commandos, has been standing guard by the seized vessel since then.
The crew of the 75-meter tugboat consists of 10 Italians, five Romanians and one Croat. The vessel is being sailed to Djibouti, escorted by Italian special forces, and is expected to reach home within a few days.
The Buccaneer was among the 28 ships the Somali pirates seized so far this year, with eight of them still in their custody, said the U.S. Navy.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.