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X-Press Feeders makes initial compensation of US$3.6 million to Sri Lankan government

Compensation to help those affected by the consequences of the fire and sinking of the “X-Press Pearl”; discussions are ongoing on the payment of further claims.
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X-Press Feeders, operators of the Singapore-registered container ship X-Press Pearl, through the vessel owner’s P&I insurers on Monday (12 July) said it has made initial compensation of US$3.6 million to the Sri Lankan government to help compensate those affected by the consequences of the fire and sinking of the vessel. 

Discussions are ongoing on the payment of further claims and all legitimate claims will be considered.

“We continue to contribute to the cleanup and pollution mitigation efforts, having flown in additional oil spill response assets on a chartered flight from Malaysia in response to a request from the UN-EU team in Colombo,” it said.

“At the wreck site, caretaker salvors remain on a 24-hour watch to deal with any debris and report any form of a spill with drones deployed daily to help with the monitoring activities.”  

Representatives of ITOPF and Oil Spill Response continue to monitor updates from the scene and are ready to respond immediately, if required. 

“Our seafarers remain housed at a hotel in Colombo, awaiting permission to travel back to their anxious families and loved ones. Having endured the trauma and stress of the fire on board and an evacuation that caused injuries to their ranks, they have now been in lockdown for over six weeks.” 

The company is working closely with Sri Lanka authorities through its local lawyers with regard to crew’s repatriation as soon as possible.

Related: MPA: Operations underway to minimise environmental impact of ‘X-Press Pearl’
Related: ‘X-Press Pearl’ starts to sink off Sri Lanka’s coast, no more towing needed, says Navy
Related: Sri Lanka to sue Singapore-registered owners of “MV X-Press Pearl” for marine pollution
Related: Singapore-flagged “X-Press Pearl” hull remains fully intact, no bunker spill detected

 

Photo credit: Jalitha Hewage on Unsplash
Published: 14 July, 2021

 

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Alternative Fuels

Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Following the successful deployment of “ONE Singapore” and its sister vessels, “ONE Solidarity” will be deployed on the Mediterranean Pacific South 2 (MS2) service.
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Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Singapore-based container shipping company Ocean Network Express (ONE) on Thursday (3 July) said it celebrated the maiden voyage of containership ONE Solidarity as the ship made its first-ever arrival in Shekou, China. 

“As one of our S-series methanol and ammonia ready container vessels, ONE Solidarity is another demonstration of ONE’s commitment to sustainable shipping,” the company said in a social media post. 

Following the successful deployment of ONE Singapore and its sister vessels, ONE Solidarity will be deployed on the Mediterranean Pacific South 2 (MS2) service. 

“Her deployment will boost our service capacity, ensuring faster, more reliable, and highly efficient shipping offerings across key global trade lanes,” the company added.

 

Photo credit: Ocean Network Express
Published: 3 July, 2026

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Alternative Fuels

“Lucia Cosulich” enters final preparation ahead of bunkering operations

Following delivery of the ship in China, it will now enter the final preparation phase ahead of its next operational steps, strengthening Fratelli Cosulich’s ability to provide reliable bunkering solutions.
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“Lucia Cosulich” enters final preparation ahead of bunkering operations

Fratelli Cosulich Marine Energy on Thursday (2 July) celebrated the delivery of Lucia Cosulich at Taizhou Maple Leaf Shipyard in China.

The vessel is the second of four sister methanol-ready IMO II bunker tankers developed within the Group’s fleet expansion programme and follows the launching ceremony held on 2 May 2026.

Designed to support the Group’s bunkering operations and future fuel requirements, Lucia Cosulich is part of the new generation of vessels developed by Fratelli Cosulich Marine Energy to combine operational reliability, safety and fuel flexibility.

Lucia Cosulich will now enter the final preparation phase ahead of its next operational steps, further strengthening the Group’s ability to provide reliable bunkering solutions.

“We wish Lucia Cosulich and her crew fair winds on the next stage of her journey,” the company said. 

Related: Fratelli Cosulich launches second methanol-ready bunker tanker in China

 

Photo credit: Fratelli Cosulich
Published: 3 July, 2026

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Business

Glencore backs FincoEnergies’ biofuel growth with majority stake acquisition

With Glencore’s support, FincoEnergies is well positioned to continue expanding its offerings in biofuels across multiple transport segments and to increase its presence in new geographies.
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Dutch biofuel supplier FincoEnergies on Thursday (2 July) announced the completion of global commodities trader Glencore’s acquisition of a majority stake in the company, forming a partnership with Coloured Finches.

FincoEnergies said its fuel distribution and logistics infrastructure, customer relationships and expertise in downstream fuel transportation will be complemented by Glencore’s global scale, sourcing capabilities and experience across the energy value chain.

With Glencore’s support, FincoEnergies added it is well positioned to continue expanding its offerings in biofuels and decarbonisation solutions across multiple transport segments and to increase its presence in new geographies.

Jan-Willem van der Velden, FincoEnergies CEO and Founder, said: “Today marks an exciting next step for FincoEnergies. Glencore already knows our business well, and this builds on years of collaboration, trust and shared ambition. With Glencore’s support and global reach behind us, we are in a strong position to continue growing our business and supporting our customers as demand for lower-carbon fuel solutions continues to evolve.”

Maxim Kolupaev, Head of Glencore Energy UK, said: “Glencore’s investment in FincoEnergies strengthens the presence of our business in Northwest Europe and creates a strong platform for future growth. We are looking forward to continuing to work closely with the FincoEnergies team and building on the successful relationship we have already developed together.”

Manifold Times previously reported FincoEnergies signing an agreement with Glencore for the acquisition of a majority shareholding in the FincoEnergies Group in a partnership with Coloured Finches.

Related: Glencore acquires majority stake in Dutch biofuel supplier FincoEnergies

 

Photo credit: FincoEnergies
Published: 3 July, 2026

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