MOSCOW, September 10 (RIA Novosti) - The Arctic Sea dry cargo ship will soon be handed over to Malta, but Russian investigators will need a few more days to complete work on board the vessel, investigators said on Thursday.

"After investigation work is over, the ship will be handed over in Las Palmas to representatives of the Republic of Malta - whose flag the ship was flying at the time it was seized," they said.

The vessel, officially carrying lumber from Russia to Algeria, was reportedly boarded by a group of eight men on July 24 and mysteriously disappeared in the Atlantic. It was discovered off Cape Verde on August 16 by Russia's Ladny frigate.

Russian and international media have suggested that the Russian-operated ship could have been involved in an arms trafficking operation on the state level, including suggestions that Russia attempted to deliver missiles for S-300 air defense systems to Iran or Syria.

Russian investigators said on Tuesday, however, that a thorough search of the Arctic Sea had been conducted, and that only lumber registered in the ship's cargo log had been found.

Russian defense officials said Thursday that after the Arctic Sea is handed over to Malta, the Ladny frigate will return to its Black Sea Fleet base in Sevastopol, Crimea, and that both ships are now in one of the ports on the Canary Islands.