Sri Lanka is reopening investigations into the X-Press Pearl disaster, seeking $6.4 billion in compensation from the London P&I Club, the vessel's insurer. The Singapore-flagged containership caught fire in May 2021, releasing hazardous substances like nitric acid and microplastic granules into the Indian Ocean, causing the island's worst environmental crisis.

A parliamentary select committee revealed that Sri Lanka has received only $12.5 million in compensation so far. The government plans to investigate payments made in local currency, which were made during a period of significant currency depreciation. Concerns about potential corruption and pressure from the previous administration regarding these payments will also be examined.

Hahn & Co. Explores $3 Billion Sale of SK Shipping Hahn & Co. Explores $3 Billion Sale of SK Shipping

Cleanup operations are still underway, with approximately 200 local women earning around $10 a day to collect plastic nurdles—small plastic beads that can harm marine life. In response to the disaster, the International Maritime Organization has drafted new recommendations for transporting plastic pellets on ships.
 

Editor: Kemal Can Kayar