AP is reporting that Capt. Richard Phillips of the Maersk Alabama is safely in the hands of the US Navy, and three of the Somali pirates killed and one captured in a "swift" firefight with Navy SEALs.
Update: Drew M. at AoSHQ is saying Phillips jumped overboard again, and the SEAL team took advantage.
Update: Early reports said that Phillips had jumped overboard, but it seems that snipers took out the pirates with Phillips still on the boat. Still not sure how that all worked what with an enclosed lifeboat and all, but I guess we'll find out soon enough.