589 claims worth $72.5m filed over June 2024 oil spill

Govt has filed claims of over $18.4m for its efforts, of which $2.8m has been approved

- Esther Loi

More than a year after Singapore's worst oil spill in a decade, an international scheme processing compensation for the incident has received 589 claims totalling $72.5 million.

The International Oil Pollution Compensation (IOPC) Funds said that of these, the Singapore Government has filed claims of more than $18.4 million for its response efforts to the incident.

IOPC Funds have approved $2.8 million worth of these claims through the 1992 Fund. The Government’s remaining claims are still being assessed.

The 1992 Fund, established by IOPC Funds, includes pooled resources from parties involved in oil trading that receive certain types of oil via sea transport.

Singapore is a member of IOPC Funds, which are two intergovernmental organisations that provide financial compensation for oil pollution arising from tanker oil spills in member states.

As at Sept 24, 212 out of the 589 claims, amounting to $31.5 million, have been approved, according to an IOPC Funds report published on Sept 30. So far, the 1992 Fund has paid out $26.9 million.