The eventual cost of releasing a Navibulgar bulker hijacked off Somalia could be pivotal to the future of piracy in the region, says the European Union naval mission.
The 41,600-dwt bulker Ruen (built 2016) was captured in December in the first successful seizure by pirates in the region since 2017.
The outcome of the case will determine if piracy remains a profitable venture, according to the EU’s anti-piracy mission Atalanta.
