Pirates who hijacked a Ukrainian ship loaded with weapons have finally received the ransom they were hoping for after holding on to their bounty since September 2008, the BBC reported Thursday.

The pirates seized the Kenya-bound MV Faina and its crew off the coast of Somalia five months ago and initially demanded a ransom of USD 20 M. Reports suggest that the final figure they received was much lower at USD 3.2 M.

The MV Faina was the highest profile vessel held by the pirates. The intended destination of its cargo was disputed.

The Kenyan government says the tanks, rocket launchers and small arms on board are theirs, but the manifest suggests the arms were heading for South Sudan, which is currently under UN sanctions and is not allowed to import weapons of any sort.

Observers say Somali pirates made about $30m from ransom payments in 2008 - far more than the annual budget of Puntland, Somalia which is the area that most of the pirates originate from.

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