Asian Glory: released - who paid the ransom?
The Asian Glory,was released on June 11 at noon. With a 4,000 car carrying capacity, it was enroute to Saudi Arabia from Ulsan carrying 2,405 automobiles and out of this number 2,388 were Hyundais.
Asian Glory was boarded by pirates off Somali coast on January 1 2010. But who paid the ransom? Hyundai Motor and Kia have asked for a quick and safe return of the crew but in an email to Bloomberg Hyundai quickly removed itself from any responsibility when it said: “As soon as the vessel embarks, all risks related to the vessel are the responsibility of the distributor. All payments for the cars have been made, while the cars are also insured.”The pirates reportedly demanded $15 million in ransom. Supposedly, the figure was the "insurance of the ship and the value of the cargo – all vehicles included".