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Liability Risk and Insurance

What price Prestige?

The 26-year-old single-hull oil tanker Prestige has split in two and sunk in deep waters 145 miles off the coast of Spain with the loss of most of 77,000 tonnes of high-sulphur fuel oil and widespread pollution of coastal and fishing areas off the Galician region in northwest Spain. Early estimates suggest a higher cost than that of the 1989 Exxon Valdez Alaskan spill, and claim and blame abounds.

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