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S'pore waters 60 compensation claims lodged by those affected by June incident
The Straits Times
|September 18, 2024
Global compensation scheme expects most claims to be made within next few months
Three months after an oil spill stained Singapore's coastlines, the International Oil Pollution Compensation (IOPC) Funds have received around 60 claims for the damage caused by the incident.
The international compensation scheme was unable to reveal the value of the claims, as they are still under assessment.
Singapore is a member of the IOPC Funds, which are two intergovernmental organisations that provide financial compensation for oil pollution arising from tanker oil spills in member states.
Speaking to The Straits Times on Sept 17 during a visit to Singapore, IOPC Funds director Gaute Sivertsen said he does not expect the total projected value of claims against the funds for this incident to exceed their limit of $355 million, based on discussions with various stakeholders that intend to file claims.
The funds noted that it is "impossible" to estimate the total value of claims at this stage due to the multiple variables at play.
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