INDUSTRY NEWS THE FIGHT TO SAVE X-PRESS PEARL IS LOST AS SHE SINKS
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“BLACK WEDNESDAY” FOR BIG OIL MV Xpress Pearl off Columbo – 20 May 2021 The X-Press Pearl, departed Hazira, India on May 15 and was heading eastbound on the last leg of a voyage from the Middle East. Whilst sailing a fire started in one of its containers. She requested permission to return to India which was rejected. However Sri Lankan authorities agreed to respond to a distress call on 20 May as the vessel anchored 9.5nm outside the port of Colombo awaiting terminal space. She was carrying 1486 containers which included
The Guardian ran this headline on 3 June
is relevant in legal terms; it is not about
to remind us that the world’s patience with
money but about conduct.
25 tons of Nitric Acid as well as cosmetics
At Exxon, shareholders, including Blackrock
Whilst extensive firefighting efforts were
the fossil fuel industry is wearing thin. In a series of defeats for the oil industry,
and Vanguard, voted to oust at least two
over the course of less than 24 hrs,
of the oil giant’s board members in favour
courtrooms and boardrooms turned on
of candidates put forward by an activist
the executives at Shell, Exxon Mobil and
hedge fund for failing to take the transition
Chevron. Shell was ordered by a court in
to low carbon energy seriously.
The Hague to reduce its carbon emissions, while shareholder rebellions in the US
At Chevron, more that 60% of investors
imposed emission targets at Chevron and a
voted in favour of a climate change
boardroom overhaul at Exxon Mobil.
resolution from Dutch campaign group,
and other potentially hazardous chemicals. undertaken to contain the fire it eventually spread to the whole vessel. SMIT Salvage were appointed to manage the incident and once the fire was thought to be extinguished on several occasions it flared up eventually consuming the whole vessel.
Follow This, to force the company to reduce To environmental campaigners this Black
its emissions.
Wednesday marks a turning point in the financial and legal consequences awaiting
Whilst these oil companies will, in different
oil companies that do not act fast to take
ways, manage this situation by offloading
accountability for their role in preventing a
assets, transferring ownership into different
climate catastrophe.
companies, there will negligible shortterm benefit to the climate. However,
Shell were in court to defend themselves
shareholders, investors and banks that
against Dutch climate campaigners at
have traditionally been supportive of the
Milieudefensi. The case was fought using
oil majors as a reliable source of dividend
elements of human rights law and the
income have been placed on watch that
UN’s guiding principles, which have ‘near-
change is necessary and vital to the future
universal application’ and can now be
of the planet. Activist and private investors
used in cases taken against other major
and major investment funds are watching
polluters. It places the onus on the industry
them closely and now have the power to
to act and that it can and now will be held
force change and win!
accountable to take very specific steps. It
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MV Xpress Pearl – now a wreck 6 June With debris from the fire and its container’s contents washing onto Colombo’s pristine beaches, on 23 May the Sri Lankan authorities demanded the vessel be towed further from the shore and into deeper waters. However, with the fire raging this was not possible. With the fires extinguished the salvage and port authority teams were able to get on board Continued ...
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