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It was transporting more than 4,000 tons of chemicals to the port of Mumbai.
"The ship was released today. The crew is fine," Kubilay Marangoz, a lawyer for the Istanbul-based YDC Maritime Company, told AFP.
Armed Somali pirates earlier in January had released another Turkish ship, "M/V Yasa Neslihan", captured in October along with 20 sailors in the Gulf of Aden after a ransom was paid.
Piracy has soared off Somalia, which is caught up in an Islamic insurgency and has no functioning government.