S'pore oil spill could cost $100m

S'pore oil spill could cost $100m

SINGAPORE (Reuters): The worst oil spill in Singapore's history, which poured 25,000 tons of heavy marine fuel oil across the Singapore Strait, could cost up to US$100 million, insurance industry sources said yesterday.

"What they're estimating is a total loss of no more than $100 million. That's vessels, cargo, pollution clean up and any claim the Singapore government might have," said one.

Singapore officials said boats and helicopters were successfully battling the spill that resulted from a collision between the Cyprus-registered Evoikos and empty Thai supertanker Orapin Global Wednesday night.

The collision left the Evoikos, carrying 120,000 tons of fuel oil to Singapore, with a crumpled port side and a huge gash that divers said extended to five meters below the waterline.