X-Press Feeders and its insurer have reported they are unable to comply with the Supreme Court’s $250 million payment order due by 23 September 2025 while continuing to seek engagement with the relevant Sri Lankan authorities.
To date, over $170 million has been paid towards wreck removal, environmental remediation and compensation claims.
These efforts were carried out in cooperation with the Sri Lankan Government, including sourcing international expertise for clean-up operations.
Claims lodged by the Sri Lankan Government that have been processed and approved by the International Tanker Owners Pollution Federation (ITOPF) have been settled.
Shmuel Yoskovitz, Chief Executive Officer of X-Press Feeders, said: “While we respect the judicial process, the ruling leaves open the possibility of additional and potentially unlimited compensation.
“Any payment towards the judgement could set a dangerous precedent for how maritime incidents will be resolved in the future. It is vital that any compensation is substantiated, proportionate and consistent with international conventions.”
X-Press Feeders reported in a statement: “We are deeply disappointed to learn from local reports of Sri Lankan parliament proceedings that compensation payments have not yet reached many affected communities due to delays within Sri Lanka.
“We are deeply concerned for the welfare of both the vessel’s Master and our agents in Sri Lanka. The Master has been prevented from returning home for more than four years due to a court-ordered travel ban, causing significant and prolonged distress to him and his family. We seek fair treatment of the vessel’s Master and local agents.”
Earlier this summer, X-Press Feeders Group signed two agreements with COSCO SHIPPING Lines to enhance global service coverage and feeder-mainline coordination.