Negotiations are in progress after Somali pirates raised their ransom demand to $10 million for the release of a Chinese-owned fishing vessel with the 18 captives they seized in late November, Maritime Executive and other international media reported quoting a Somali official.

The vessel, registered in Taiwan, was reportedly operating with an expired fishing license and had 18 crew members on board. Initial reports suggest the kidnapping could have been aided by two local security guards on the vessel, who allegedly collaborated with the pirates.

The pirates initially asked for $5m but escalated their demands following unsuccessful negotiations. An offer of $300,000 was reportedly raised to $1m before being rejected.

The EU's Operation Atalanta, tasked with monitoring Somali coastal waters, confirmed the presence of armed individuals on the boat but reported no harm to the crew. Since the vessel remains in Somali territorial waters, local forces are handling the situation.

This incident is one of 20 reported pirate attacks in 2024, though many incidents involving smaller vessels may go unreported.