X-Press Feeders, the former operator of the containership X-Press Pearl that caught fire and sank off Sri Lanka’s coast in 2021, has announced it cannot comply with the Sri Lankan Supreme Court’s interim payment order due today. The company was required to pay USD 250 million as part of a broader USD 1 billion compensation ruling issued in July. “Any payment towards the judgement could set a dangerous precedent for how maritime incidents will be resolved in the future. X-Press Feeders maintains that it has already contributed over USD 170 million through its insurer for “wreck removal, environmental remediation and compensation claims” in cooperation with Sri Lankan authorities. The company warns that the precedent set by this judgment “establishes an unprecedented level of risk” for the global shipping industry.