Connecticut shipowner paid over $1M ransom to Somalia pirates

(STAMFORD, Conn.) — Industrial Shipping Enterprises Corp. paid over $1 million ransom to Somalia pirates to secure safe release of the MV Biscaglia and its 28 crew, the Wall Street Journal reported. The Stamford-based company’s tanker was held for 56 days.
Click here to view the Journal’s story.
By Professional Mariner Staff