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Edition: U.S. Article Comments (0) Email Print Reprints Full Focus Best of the week Our top photos from the past week. Full Article Read Mexico kills top drug lord at U.S. border 12:50am EDT Obama wins India business | 11:14am EDT Microsoft's Ballmer sells 12 percent of his stake in company 11:36am EDT Obama: U.S. can't afford two years of gridlock 05 Nov 2010 U.S. dollar printing is huge risk -China c.bank adviser 03 Nov 2010 Discussed 269 Obama warns of policy rollback if Republicans win 114 Boehner vows to repeal Obama healthcare reforms 103 Obama: U.S. can’t afford two years of gridlock Watched Bejeweled bra exposed in NY Thu, Oct 21 2010 Russian spy poses for Maxim Tue, Oct 19 2010 U.S.-Mexico drug tunnel discovered Thu, Nov 4 2010 Pirates release South Korean supertanker Tweet This Share on LinkedIn Share on Facebook By Abdi Sheikh and Mohamed Ahmed MOGADISHU (Reuters) - Somali pirates said on Saturday they had received a record ransom of $9.5 million for the release of Samho Dream, a South Korean oil supertanker they hijacked in the Indian Ocean in early April... Factbox FACTBOX-Ships held by Somali pirates Mon, Oct 25 2010 Related News UPDATE 3-U.S. Navy seeks to buy warships from both bidders Wed, Nov 3 2010 Pirates may have hijacked Britons' yacht Mon, Nov 1 2010 Special report: Faked in China: Inside the pirates' web Tue, Oct 26 2010 German ship freed by Somali pirates Mon, Oct 25 2010 Related Topics World » South Korea » By Abdi Sheikh and Mohamed Ahmed MOGADISHU | Sat Nov 6, 2010 10:20am EDT MOGADISHU (Reuters) - Somali pirates said on Saturday they had received a record ransom of $9.5 million for the release of Samho Dream, a South Korean oil supertanker they hijacked in the Indian Ocean in early April this year. Andrew Mwangura, coordinator of the East African Seafarers Assistance Programme, confirmed the supertanker was free, and that a Singapore-registered ship with 19 Chinese sailors onboard hijacked in June in the Gulf of Aden had also been released. The Samho Dream, which can carry more than 2 million barrels of crude oil, was hijacked and its crew of five South Koreans and 19 Filipinos taken hostage, while carrying as much as $170 million worth of crude oil from Iraq to the United States. Somalia has lacked an effective central government for almost two decades and is awash with weapons. The mayhem on land has allowed piracy to boom in the strategic waterways off its shores linking Europe to Asia and Africa. The hijacked vessels are taken to the Somali coast and held until money is paid, although negotiations can take months. "I can confirm Samho Dream is now free, but still in Somali waters," said Mwangura, who is based in the Kenyan Indian Ocean port of Mombasa. "It is a large ship and it's unlikely that it can dock in Mombasa, maybe it will dock somewhere along South Africa's coast or elsewhere to replenish its supplies." He told Reuters the ransom paid for Samho Dream would be the highest paid out to the pirates since they started hijacking vessels in the past several years. "They initially demanded $20 million. What I can confirm is that negotiators tell me they agreed to make the drop with an amount in excess of $9 million. This would be the highest sum paid out to pirates so far." It was not immediately clear how much ransom had been paid for the Singapore-registered Golden Blessing. The ship was seized on its way from Saudi Arabia to India. Mwangura said the actual ransoms would be confirmed later. "JACKPOT" "This is the jackpot they have been looking for, it will encourage other youth to join in piracy or the supply of arms and technical ability to pirates," he said. Somali pirates are making tens of millions of dollars in ransoms from seizing ships, including tankers and dry bulkers, in the Indian Ocean and the Gulf of Aden, despite the efforts of foreign navies to clamp down on such attacks. "We received an amount of $9.5 million early in the morning, now we are dividing the ransom and will abandon the ship (soon)," a pirate who gave his name as Ali told Reuters earlier, referring to the ransom paid for Samho Dream. "We have abandoned the ship and set it free and it is sailing away, the crew is safe," he said. Somali pirates are holding 28 vessels with more than 494 hostages, Mwangura said. (Additional reporting and writing by James Macharia; editing by Myra MacDonald) World South Korea Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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