The Philippine Coast Guard has confirmed that the stakeholders of the two vessels involved in a collision off the western Philippine province of Occidental Mindoro in late June of this year are set to formally settle the damages that resulted from the incident.
In a press briefing on Thursday, August 20, coast guard commandant Admiral George Ursabia Jr said the owners of the Hong Kong-flagged bulk carrier Vienna Wood N and the Philippine-flagged fishing vessel Liberty Cinco have both agreed to the settlement, which will be formally concluded on Monday, August 24.
The family members of the 12 fishermen and of the two other personnel who were on Liberty Cinco will receive compensation amounting to PHP1 million (US$20,574) each from the owners of Vienna Wood N while Irma Fishing and Trading will receive a settlement amount of PHP40 million (US$822,973) to cover the cost of the distressed fishing vessel.
The incident between Vienna Wood N and Liberty Cinco occurred 24 kilometres off Occidental Mindoro at around 01:00 local time on June 28.
Vienna Wood N‘s vessel manager said in a statement that the ship stopped immediately following the collision and the crew conducted an emergency damage assessment before subsequently reporting the incident to the Maritime Rescue Coordination Centre (MRCC) in Manila.
The bulk carrier’s crew and local search and rescue (SAR) teams then combed the area over the succeeding hours but found only the capsized fishing vessel, which eventually sank at 18:30 on June 28. No trace of its 14 occupants was ever found.
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