A Somali pirate spokesman says his group will release a Ukrainian cargo ship loaded with tanks and heavy weapons and its 20 crew members within the next two days.

Sugule Ali told The Associated Press by satellite phone Tuesday that a ransom agreement had been reached for the MV Faina. The pirate spokesman declined to say how much it was. The pirates had originally asked for $20 million when the MV Faina was hijacked Sept. 25.

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Ali said once the pirates receive the ransom and leave the ship safely, it and the crew will be freed. He was not afraid of international warships intervening because of the amount of arms aboard the ship.

Piracy is rampant off the lawless Somali coast. Over 100 ships have been attacked this year.