The EU force made contact with the ship's master who said his vessel and crew were being held captive anchored off the coast of north-east Somalia.
The gunmen have however not given any details about the size of the ransom.
The EU is helping to tackle piracy in the region but this is the first hijack off Somalia's coast since 2012.
The ship was en route from Djibouti to the Somali capital, Mogadishu, when it sent a distress signal, saying it was being approached by high-speed boats.
The ships tracking system has reportedly been switched off.
The Sri Lankan Foreign Ministry has confirmed that eight of its nationals were on board.
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