An understanding on compensation has been reached between representatives of the Panamian flagged Japanese cargo vessel, 'M V Izumo', which allegedly rammed a fishing boat, and various unions in connection with the hit-and-run case off the Kozhikode coast on January 16.
As per the agreement reached at a meeting at the office of former state industries minister Elamaram Kareem, MLA, in Kozhikode on Thursday, the owners of the ship will pay a compensation of Rs 19.5 lakh to the three fishermen who had a miraculous escape after the ship rammed their fishing vessel 'Al Ameen', officials said.
The fishermen, who had lodged a complaint with coastal police station at nearby Beypore against NYK Hinode Line Ltd, Tokyo, the owners of the vessel, would withdraw it, as per the deal.
The M V Izumo, carrying soyabeans, was on its way to Singapore from Kandla on January 16 when it reportedly hit the boat which sank. The three fishermen on the boat had jumped overboard just before the collision and were rescued by other fishing boats in the vicinity.
As it continued with the journey, two fast patrol vessels and a Dornier aircraft of the Indian Coast Guard intercepted the vessel within hours of the incident.