A Singapore-registered vessel, Sea Consortium (Private) Limited, paid US$1 million to its Sri Lanka agent to settle a lawsuit related to the 2021 sinking of the MV X-Press Pearl off Colombo Port. The plaintiff, who initiated the legal action, stated he received the payment as a gesture of good faith, acknowledging a significant financial burden. The agent explained that the company lacked the resources to fully compensate for the damages resulting from the incident. The total damages awarded amounted to US$1 billion, and the payment represents a significant portion of this amount. The dispute centers around the extent of the environmental impact caused by the shipwreck.
Credits: News – South China Morning Post
