23-Sep-2025
X-Press Feeders, the former operator of the container ship X-Press Pearl, together with its insurer, has carefully considered the July ruling of the Supreme Court of Sri Lanka which mandates an initial payment of USD 250 million on 23 September 2025, as part of an interim USD 1 billion order. After review, we are unable to make payment at this stage whilst we continue to seek engagements with the relevant Sri Lankan authorities.
“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,” said Shmuel Yoskovitz, Chief Executive Officer of X-Press Feeders. “It is vital that any compensation is substantiated, proportionate and consistent with international conventions.”
To date, over USD 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.
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 share the frustrations of those impacted and remain open to providing additional direct support to community-based projects in Sri Lanka, for the benefit of the fishermen and marine environment.
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. Over the last four years, our local agents have continued to face repeated investigations, arrests and court proceedings for an incident which they had no decision-making role in. We seek fair treatment of the vessel’s master and local agents.
We are open to direct dialogue with the relevant Sri Lankan authorities and have been actively seeking to engage with their representatives. We hope to achieve an outcome that is evidence-based, fair, proportionate and consistent with international practice.