THE Shipowners' P&I Club and the International Oil Pollution Compensation (IOPC) Funds have reported paying $43.2 million (P2.54 billion) to settle 26,101 claims from the Princess Empress oil spill as of Nov. 5, 2024.
The fisheries sector accounts for the majority of claims, with 36,546 registered worth P1.73 billion. Payments totaling P823.3 million have been made to 26,034 fishers, and P179.6 million had been allocated to 9,030 fish traders. A study by local fisheries experts completed in March 2024 helped expedite assessments despite initial documentation challenges.
