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Cargo loss from vessel fire near Sri Lanka could reach $50 million

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Rob Hawes, head of marine at U.S.-based claims management firm Crawford & Co., estimates the cargo loss from the fire aboard X-Press Pearl containership between $30 million and $50 million, with insurers facing hull and machinery, liability and cargo insurance claims, S&P Global reported. The London P&I Club has provided the protection and indemnity cover for X-Press Pearl, which caught fire on May 21 near the Sri Lankan port of Colombo.

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