Somali pirates have reached a deal with the owners of a Ukrainian ship seized in September and will release the vessel in the coming days.

The MV Faina, with a cargo of 33 Soviet-type battle tanks, rocket launchers and ammunition, was captured en rout to Kenya on September 25. There were 17 Ukrainians, three Russians and one Latvian aboard the vessel.

A spokesman for the pirates said that after finalizing a few technicalities concerning the ransom exchange and the pirates' escape the ship would be released.

Spokesman Sugule Ali said that the initial demand of USD 35 million had been lowered to USD 3 million. However, the final amount ransom agreed upon is yet to be disclosed.

The capture of the ship triggered a controversy over the cargo's final destination.

Kenya has insisted it was the intended recipient of the arms but maritime officials and diplomatic sources in the region have claimed the government of semi-autonomous southern Sudan was the destination.

FBA/MMN