Somali pirates have released a Greek-owned Panama-registered cargo ship and its 19 crew members after holding them hostage for two months.

A huge ransom was air-dropped onto the bulk carrier Navios Apollon, according to maritime officials.

The Navios Apollon is now sailing to its final destination, India enroute Oman.

The bulk carrier was hijacked about 800 miles off the Somali coast north of the Seychelles while on its way from the US to India with a cargo of fertiliser in December last year.

The Marine Ministry Merchant said all crew members are safe, reports Reuters.