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International Business Times

World

Singapore Firm Rejects $1bn Sri Lankan Pollution Damages

Sri Lanka Pollution Singapore Sri Lankan

The MV X-Press Pearl vessel sank off Colombo Port in June 2021 (Credit: AFP)

A Singapore shipping company told AFP on Tuesday it will refuse to pay Sri Lankan court-ordered damages of US$1 billion for causing that country's worst case of environmental pollution.

In an exclusive interview, X-Press Feeders chief executive Shmuel Yoskovitz said he believed paying would have wide-ranging implications on global shipping and "set a dangerous precedent".

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