X-Press Feeders has openly rejected a Sri Lankan Supreme Court ruling that ordered the company to pay USD 1 billion in compensation for the 2021 X-Press Pearl disaster.
The ruling, issued in July 2025, required an initial instalment of USD 250 million, but the company has said it will not comply, arguing that such payments could set a “dangerous precedent” for the global shipping industry by leaving operators exposed to disproportionate liability. CEO Shmuel Yoskovitz stressed that any compensation must be “substantiated, proportionate, and consistent with international conventions.”
The X-Press Pearl, carrying nearly 1,500 containers including hazardous cargo, caught fire and sank off Colombo in May 2021 after being denied entry at several ports while seeking to offload a leaking nitric acid container.The accident released massive amounts of plastic pellets, toxic substances, and other debris into the sea, devastating marine life, polluting 80 kilometres of coastline, and crippling Sri Lanka’s fishing industry. The cleanup has been one of the country’s most expensive and complex environmental operations to date.
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X-Press Feeders maintains that it has already spent over USD 170 million on wreck removal, environmental remediation, and compensation in cooperation with Sri Lankan authorities, with claims vetted by the International Tanker Owners Pollution Federation (ITOPF).
The company also expressed frustration that many affected communities have not received compensation due to delays within Sri Lanka and pledged willingness to support local projects directly.
At the same time, it raised concerns over the prolonged detention of the ship’s captain under a travel ban and the repeated legal proceedings faced by its Sri Lankan agents, whom it says had no decision-making role in the disaster.
