In an interview with the ABS-CBN News Channel, Justice Undersecretary Raul Vasquez disclosed this amount following a meeting on Tuesday with director Gaute Sivertsen, head of the International Oil Pollution Compensation Funds.
MT Princess Empress is insured by the Shipowners’ Club, and afrom affected fisherfolk and other people who have suffered economic losses since the sinking on February 28. This process is expected to take months.
As of April 26, almost a month after the sinking of MT Princess Empress, total damage to agriculture has reached P3.8 billion, according to the National Disaster Risk Reduction Management Council . This is almost one-fourth of the P15.7 billion available from the insurer and the IOPC. Vasquez said around 300,000 liters of Industrial Fuel Oil could still be in the tanks and valves of the oil tanker, but this estimate was done first of week of April, when two Remotely Operated Vehicles – one from Japan and one from the United States Navy – attempted to bag the leaks. Those ROVs left Mindoro on April 5 and April 7, respectively.
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