The owner of a Bangladeshi bulker hijacked in the Indian Ocean on Tuesday says there has been no contact from the pirates, despite rumours of ransom demands circulating in domestic media.

The Onkar Only Truth website cited the families of crew members on the 58,100-dwt Abdullah (built 2015) as saying the gunmen want a payment of $5m.

The pirates have threated to kill the 23 Bangladeshis on board one by one unless they receive the cash.

The vessel’s owner, steel group KSRM, told the Dhaka Tribune that no demands have yet been made.

KSRM has been liaising with the Abdullah’s insurer, the West of England protection and indemnity club, over a release of the hostages.

The bulker was reported to be 72 miles (116 km) off the Somalia coast on Thursday and is expected to reach the shore today.

Contact could then be made with KSRM, it is believed.

Mizanul Islam, a media adviser to the owner, said: “The pirates have not contacted us yet. The ship’s sailors are safe and sound.

“According to the latest information we have, the pirates have not harmed the sailors in any way. We are trying to ensure that no harm comes to them. We are leaving no stone unturned for the return of the hostages.”

Government determined

Bangladesh’s shipping minister, Khalid Mahmud Chowdhury, said the government is determined to bring back the seafarers, and they will be repatriated at any cost.

Chowdhury said: “Prime Minister Sheikh Hasina gave instructions to the foreign minister. He has spoken in other places. Appropriate steps are being taken to bring back the sailors safely to Bangladesh.”

The Abdullah was carrying coal from Mozambique to Dubai.