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Somali pirates holding US Captain Richard Phillips hostage have warned that the use of force to rescue him could result in "disaster".
The pirates said they hoped to transfer him to a bigger vessel, as US and other naval ships made their way to the area.
Capt Phillips is being held by a gang of four pirates on a lifeboat hundreds of kilometres off the Somali coast.
He tried to escape on Friday by jumping overboard and swimming to a nearby US ship, but was recaptured.
One Frenchman and two pirates were killed in a rescue operation on Friday by French troops on a separate vessel captured off Somalia.
Four others, including a child, were freed from the yacht, Tanit, which pirates seized last week.
,b>'Rescue tricks'
The US seaman was taken hostage on Wednesday after pirates hijacked his ship, the Maersk Alabama, as it sailed towards the Kenyan port of Mombasa carrying food aid.
There has been rising concern in the US over the fate of Capt Phillips - Defence Secretary Robert Gates told reporters in Washington on Friday that the safe return of the captain was a "top priority".
FBI experts are helping negotiate his release, but analysts have said the process could be lengthy.
Reports in the US say they are demanding a ransom of $2 million for his safe release.
The US Navy destroyer, USS Bainbridge, is at the scene of the confrontation with other American warships on the way.
Stories circulating in Somalia claim that extra pirate ships are also making their way towards the area.
The pirates say they hope to transfer Capt Phillips to a bigger and better-protected vessel.
"We are planning to transfer the hostage on to one of the ships our [pirate] friends are holding around Garacad area so that we can wait," one of the pirate leaders, Abdi Garad, told AFP news agency, adding that negotiations had reached an impasse.
The Pentagon is also said to be considering other options, US sources say.
"One of the options of last resort is for the military to exercise combat force to try and rescue Captain Phillips," retired US commander Kirk Lippold told AFP.
But the Somali pirate commander warned against any forcible intervention.
"I'm afraid this matter is likely to create disaster because it is taking too long and we are getting information that the Americans are planning rescue tricks like the French commandos did," Abdi Garad said.
The cargo ship, carrying food aid destined for Somalia and Uganda, was seized about 500km (311 miles) off Somalia's coast in the early hours of Wednesday.
After a long struggle, the crew members regained control of the ship. It is thought that Capt Phillips offered himself as a hostage in order to save his crew.
Somalia has been without an effective government since 1991, fuelling the lawlessness which has allowed the pirates to thrive.
Pirates typically hold the ships and crews until large ransoms are paid by the shipping companies. Last year the firms handed over about $80m (£54m).
Efforts to stop the pirates have so far had only limited success, with international naval patrols struggling to cover the vast areas of ocean where pirates operate.
Source: BBC
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