Under-insured
If the law says Swires, or any other shipping line owners, have a maximum liability of $20 Million blame the law makers, not Swire. The late Kerry Packer had the same approach to paying taxes when he said that he was not going to pay a cent more in taxes than required to and that anyone who did was a fool. He also added that the government did not do a good job of using the tax revenue wisely. Likewise, almost every government estimate of costs is inflated grossly, why not the amount to clean up after the fuel spill?