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Tanker owners likely to pay up

Last Modified: 26 Nov 2008
By: Jonathan Rugman

The owners of the supertanker hijacked by Somali pirates are "highly likely" to pay a ransom to secure its release.

Lord Levene, chairman of Lloyds insurance, told Channel 4 News there is "no alternative" to paying ransoms if ships crews are to be saved.

He said: "You don't want lives to be lost". And he described hunting down Somali pirates as like "looking for a needle in a haystack".

The gang holding the crew of the Sirius Star, including two Britons, are demanding £10m for their release.

The Somali journalist Jamal Osman has gained access to a village widely regarded as the main pirate stronghold.