The last contact with the ship was late last week, and it was unclear exactly when the hijacking took place, said Andrew Mwangura, the head of Kenya Seafarers Association.

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Plus550 has funded seven companies so far, according to Clay Andrus who has been working with the group since its beginning: Chargeback Guardian, CloudVu, Contact Point, Drop Ship, Marketecture, Right Intel and Salt Stack.

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As a precautionary measure, the ship's Master "implemented aggressive maneuvering at 1945 local time, " before contact was made with the EU Coalition Task Force -- which monitors a protected shipping corridor in the Gulf of Aden -- and passengers were requested to assemble in safe havens.

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The ship's Istanbul-based owner, Ya-Sa Shipping Industry and Trading, has not been able to contact the freighter, company spokesman Fehmi Ulgener said.

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