OSM Holdings - News & Updates

  • Feeder refuses $250M pollution payment, warns precedent

    X-Press Feeders is raising concerns over a new \$250 million compensation order from the Supreme Court of Sri Lanka related to the 2021 X-Press Pearl disaster, stating it cannot comply while honoring existing commitments. The company, which has already paid over \$170 million toward wreck removal and cleanup through channels like the ITOPF, argues this additional demand undermines legal certainty and international maritime protocols. Furthermore, X-Press Feeders expressed deep disappointment that funds already disbursed have not yet reached the affected fishing and coastal communities, citing delays within the Sri Lankan government as a growing political issue complicating the case.

    Source: https://www.maritimegateway.com/