But the owner of the 1,800-dwt vessel (built 1989) rejected the deal because it was feared the gunmen would take the cash and keep the two Danes and four Filipinos hostage.
The Shipcraft crew were finally released this week after a payment running into "considerable millions" of dollars"
Shipcraft boss Claus Bech said: "It is clear that these are some thoughts that we have been through. But we chose to follow the professional advice that was offered in the field."
Denmark's TV2 asked him whether handing over the relatively small amount of money would have been worth the risk.
He answered: "It was still a lot of money, but in retrospect, then maybe. But the advice was different at the time."
