Negotiations for the release of the Ukrainian ship, which was hijacked along the Somali coast with17 crew members are at advanced stages, a regional maritime official said on Sunday.
Andrew Mwangura of the East African Seafarers' Assistance Program said negotiations for the release of the MV Faina which was seized two months ago have so far gone well and may culminate in the release of the vessel with military hardware this week.
"Negotiations have been finalized and what remains is a few modalities before the release of the vessel. It could be this week, probably on Tuesday," Mwangura told Xinhua by phone on Sunday.
Mwangura's remarks were backed by Somali pirates who said on Sunday that an agreement for the release of the Ukrainian cargo ship that they seized on Sept. 25 has been reached and that the freedom was expected within days.
According to news reports from Somalia, the pirates said they are still grappling with a few modalities before the ship and her 17 member crew aboard are freed.

MV Faina, a hijacked Ukrainian ship carrying 33 tanks, is seen from a U.S. Navy ship in the Gulf of Aden, in this handout from the U.S. Navy, Sept. 29, 2008. The ship is carrying tanks and other weapons which were destined for the port of Mombasa but the ultimate destination has been a source of controversy with suggestions that the arms were headed to southern Sudan and not Kenya.
The Somali pirates have issued numerous deadlines for the ransom to be paid or else they blow up the Ukraine ship but analysts say it was a negotiation gimmick. They have since withdrawn the deadline.
The Kenyan government maintains that the Russian-made arms were being delivered to Kenya to be used by its military but maritime officials and diplomatic sources in the region have said the government of semi-autonomous southern Sudan was the destination.
The MV Faina is currently moored off Somalia's coast close to the town of Hobyo.
Warships from Denmark, India, Malaysia, Russia, the United States and NATO are patrolling the vast international maritime corridor off Somalia, escorting some merchant ships and responding to distress calls.
However, the piracy in this region is rampant, and the lawlessness in the war-torn Somalia is believed to be the root.
This year there have been more than 90 attempts at capturing ships by pirates in the Gulf of Aden, 39 of which have been successful, according to maritime organizations.
Source:Xinhua