Nov. 24 (Bloomberg) -- Somali pirates who hijacked a Saudi Arabian supertanker said they may cut their demand for a $25 million ransom and reiterated that they will defend themselves if an attempt is made to free the ship.

“Negotiations are smoothly ongoing between us,” Abdi Salan Ahmed, who said he represents the pirates, said in an interview today from the northern town of Harardhere. “There may be some type of ransom reduction but I can’t confirm it now.”

Somali pirates are holding the Sirius Star, laden with 2 million barrels of oil worth about $110 million, near Harardhere, which is controlled by Islamist militias. The vessel was hijacked with its 25-strong crew on Nov. 15, about 420 nautical miles (833 kilometers) off Somalia.

To contact the reporter on this story: Hamsa Omar in Mogadishu via Johannesburg at pmrichardson@bloomberg.net.

Last Updated: November 24, 2008 03:33 EST