Sources say that the demand for the ransom amount is already placed with the Iran's Shipping Lines company which operates the ship. The ship which has 25 crew members was carrying 26,000 tonnes of wheat. The ship was heading towards Bandar Abbas, the Iranian port city. Reports suggest that the ship was flying a Hong Kong flag, but is operated by the Islamic Republic of Iran Shipping Lines. All crew members are reported to be safe. The ship is now reportedly heading towards an anchorage site off the coast of Somalia.