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X-Press Feeders calls for ‘rational decision-making’ following USD 1 billion Sri Lanka ruling

‘This judgment, which ignores accepted international maritime law, establishes an unprecedented level of risk that we, along with most shipping companies, will struggle to meet,’ says company on “X-Press Pearl” incident.
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X-Press Feeders calls for ‘rational decision-making’ following USD 1 billion Sri Lanka ruling

Singapore-based global maritime container shipping company X-Press Feeders on Thursday (14 August) said it is “deeply concerned” with the recent decision of the Supreme Court of Sri Lanka, which orders an initial payment of USD 1 billion within a year, in relation to X-Press Pearl’s casualty.

On 20 May 2021, the Singapore-registered container ship, which was carrying 1,486 containers, encountered a fire that started in the cargo area while at anchor about nine nautical miles from the Port of Colombo, Sri Lanka and subsequently sank. 

According to media reports, billions of plastic nurdles washed up after the disaster along with dead turtles, dolphins and fishes.

X-Press Feeders said it has expressed deep regret to the people of Sri Lanka from the very start for the impact of the X-Press Pearl’s sinking and remained committed to fully assist the government of Sri Lanka in all clean-up operations

“Whilst we recognise the need for compensation for any environmental damage, we believe that it must be done in an equitable and fair manner that identifies the failings in the response and clean-up operations of the Sri Lankan government and is based on expert, scientifically based assessment of damages, without having a severe human impact,” the company said. 

“Indeed, to limit the environmental impact, the Owners have, to date, paid over USD 150 million to remove the wreck, remove nurdles from the beaches, and compensate the affected fishermen.”

The company also said the court’s intent to lay all blame and liability on the vessel’s owners and operators is “blatantly apparent in their judgment on the Sri Lankan authorities’ role in the incident”.

“It exonerates the actions of the Harbour Master and Director General of Merchant Shipping, despite their own experts boarding and inspecting the vessel and raising no alarm or immediate reason for concern, more than a week before the X-Press Pearl sank. It also ignores the vessel’s pleas for help and the refusal by three ports (in Qatar, India, and Sri Lanka) to offload the container before the fire started.”

The company expressed concerns on the repercussions of the court ruling. 

“For more than 40 years, X-Press Feeders have been pivotal players in Sri Lankan trade. However, this judgment, which ignores accepted international maritime law, establishes an unprecedented level of risk that we, along with most shipping companies, will struggle to meet,” it said.

“We fear the inevitable rise in import-export costs and the broader impact on the people of Sri Lanka.”

“We urge all parties involved to consider the implications and ramifications of these interim findings and appeal for rational decision-making and judgments regarding liability and compensation that address the needs for environmental rehabilitation and compensation whilst ensuring the ongoing viability of trade for Sri Lankan people.”

Related: ‘X-Press Pearl’ starts to sink off Sri Lanka’s coast, no more towing needed, says Navy
Related: Singapore-flagged “X-Press Pearl” hull remains fully intact, no bunker spill detected
Related: X-Press Feeders makes initial compensation of US$3.6 million to Sri Lankan government
Related: Sri Lanka to sue Singapore-registered owners of “MV X-Press Pearl” for marine pollution
Related: MPA: Operations underway to minimise environmental impact of ‘X-Press Pearl’
Related: Sri Lanka: Trico Maritime arrests “X-Press Kohima”; seeks USD 622,000 claim over “X-Press Pearl” incident

 

Photo credit: Sri Lanka Air Force – SLAF Media
Published: 18 August, 2025

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Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

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July 21, 2026

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RESIZED Sora Shimazaki on Pexels

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July). 

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions. 

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

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12 hours ago

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July 21, 2026

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RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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Winding up

Singapore: Liquidator of Nan Shan Maritime Pte Ltd issues notice of dividend

Third interim dividend to admitted unsecured claims of Nan Shan Maritime is payable from 15 July, according to Government Gazette notice.
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5 days ago

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July 16, 2026

By

RESIZED Drew Beamer

A notice of dividend for Nan Shan Maritime Pte Ltd, which is currently in creditors’ voluntary liquidation, was published on the Government Gazette on Wednesday (15 July). 

The following are the details of the notice:

Name of Company : Nan Shan Maritime (Pte.) Ltd.(In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Amount per centum : 5.00 Per Centum of all admitted unsecured, claims
First and Final or Otherwise : Third Interim
When Payable : 15 July 2026
Where Payable : Entitlements will be made by way of cheque.

 

Photo credit: Drew Beamer
Published: 16 July, 2026

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