SCI interviewed former crew members of the then Dubai-owned ro-ro Iceberg I (built 1976) who spent almost three years – from 2010 to 2013 - under the control of Somali pirates.
The seafarers, who witnessed violence and torture, were unable to find employment after their release, SCI said.
Many of them have not been paid their wages, nor have they received any other compensation.
They have survived on hand-outs from charities and the Maritime Piracy Humanitarian Response Program.
In one of the interviews, a crew member recalls being abused and having nobody to speak to.
He said the pirates painted the vessel and changed its name in order to use it in other hijack operations.
The gunmen demanded a $10m ransom from the owner, but he responded he could only give $1,000.