BRUSSELS (BNO NEWS) -- A Panamanian flagged vessel on Monday was pirated in the North Arabian Sea, the European Union Naval Force - Somalia (EU NAVFOR) confirmed.

EU Naval Force spokesman Paddy O'Kennedy said that the bulk cargo carrier MV Dover was pirated approximately 260 nautical miles (481.5 kilometers) North East of Salalah, the second largest city in Oman.

The Greek owned vessel was on its way to Saleef, Yemen from Port Quasim, Pakistan, when it was attacked. Further details of the attack are not known at this time as there is presently no communication with the vessel.

The Panamanian flagged cargo carrier is carrying a crew of 23 people; consisting in 3 Romanian, 1 Russian and 19 Filipinos. "There is no information regarding the condition of the crew," O'Kennedy said.

The MV Dover was registered with the Mediterranean Shipping Company (MSC), and was reporting to the UK Maritime Trade Operations (UKMTO). O'Kennedy added that the EU Naval Force are continuing to monitor the situation.

According to the European Union Naval Force - Somalia, most hijackings usually end without casualties when a ransom has been paid. This, however, often takes many months.

According to a recent study, maritime piracy cost the global economy up to $12 billion last year, with Somalia-based pirates responsible for 95 percent of the costs.

(Copyright 2011 by BNO News B.V. All rights reserved. Info: sales@bnonews.com.)