Singapore-based X-Press Feeders says it cannot make the US$250 million payment ordered by Sri Lanka’s Supreme Court while it continues talks with authorities. The payment is part of a US$1 billion interim order related to the 2021 loss of the X-Press Pearl.
CEO Shmuel Yoskovitz said the company respects the legal process but warned the ruling leaves the door open for unlimited future claims. “Any payment towards the judgment could set a dangerous precedent for how maritime incidents are resolved,” Yoskovitz said. He called for compensation to be “substantiated, proportionate and consistent with international conventions.”
So far, X-Press Feeders and its insurer have paid more than US$170 million for wreck removal, environmental remediation, and approved compensation claims. These efforts were carried out with Sri Lankan authorities, including the use of international specialists for the cleanup.
The company voiced frustration that many affected communities have yet to receive compensation due to domestic delays. It said it is open to supporting local projects that directly benefit fishermen and the marine environment.
X-Press Feeders also raised concerns over the ongoing travel ban preventing the ship’s master from leaving Sri Lanka for more than four years. Local agents have also faced repeated investigations and arrests despite having no decision-making role in the incident.
The company reiterated its call for fair treatment of crew and agents and said it remains open to direct dialogue with Sri Lankan authorities to reach a fair and evidence-based resolution.
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