Somali Pirates Release Greek-Owned Ship

Somali pirates have released a Greek-owned cargo ship and its 24 Ukrainian crew members after seven months in captivity.

The director of Greek shipping firm Alloceans Shipping , Spyros Minas, says pirates freed the Ariana Thursday, after the company paid a ransom.

In Kiev, Ukrainian President Victor Yushchenko also announced the crew's release.

The shipping company did not reveal the size of the ransom, but pirates told reporters the amount was more than $2.5 million.

Pirates have continued to hijack vessels despite the presence of foreign naval patrols near Somalia.

They are still believed to be holding around 260 crew members on nearly a dozen captured ships.

Some information for this report was provided by AFP and Reuters.