The X-Press Pearl incident is the worst maritime disaster to have struck Sri Lanka. It has significantly impacted Sri Lanka’s sensitive coastal environment, local communities, and economy. In this situation, Sri Lanka is unable to manage itself. There Sri Lanka had to seek assistance from another country. In a short period, Sri Lanka has been exposed to two major maritime disasters, MT New Diamond and MV X-Press Pearl. Due to the improper management of the above accidents, it will become a catastrophic disaster. Proposing a hazard identification and risk analysis system is an essential step toward minimizing the impact of shipping on the marine environment, identifying potential hazards, and assessing the risks associated with shipping activities in marine environments.