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.