ever given container ship News

Seized Suez Ship Declared Fit for Onward Passage (Once Compensation Is Paid)

CAIRO – The cargo vessel that blocked global shipping in the Suez Canal and is caught in a legal dispute in Egypt is fit to sail once approval is given, its technical manager said on Wednesday. The Ever Given was …

Update: Egypt Seizes Container Ship that Blocked Suez, Pending $916M Compensation

Egypt seized a giant container vessel that blocked the Suez Canal last month as it sought compensation of more than $900 million. A court in the city of Ismailia granted a seizure request regarding the Ever Given vessel at the …

Suez Canal Authority Still in Talks About Compensation for Grounding of Container Ship

Egypt is still in talks about compensation stemming from the operations to free the giant container ship whose stranding in the Suez Canal for nearly a week roiled global cargo markets, the canal authority’s chief said Monday. It’s likely that …

Huge Ship That Blocked Suez Canal Will Be Held Until Compensation Deal Is Reached

Egypt will release the giant container ship that had blocked the Suez Canal for nearly a week once a deal is reached on compensation for related losses, the head of the canal’s authority said. “The ship is ready,” Osama Rabie …

Suez Canal Blockage Continues to Disrupt Global Trade, Hitting Supply Chains

LONDON/LOS ANGELES – A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade, industry sources say. Dozens of container …

Reinsurers Will Bear Most of Costs of Container-Ship Grounding in Suez Canal

LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars. International supply …

Egypt Seeks Out-of-Court Settlement with Owners of Huge Ship that Blocked Suez Canal

ISMAILIA, Egypt – The Suez Canal chief said Tuesday that authorities are negotiating a financial settlement with the owners of a massive vessel that blocked the crucial waterway for nearly a week. Lt. Gen. Osama Rabie told The Associated Press …

Suez Canal Must Upgrade to Avoid Future Shipping Disruption: Sources

CAIRO – Egypt’s Suez Canal must move quickly to upgrade its technical infrastructure if it is to avoid future shipping disruption, shipping industry sources said, as the major trade route tries to bounce back from a costly six-day closure. International …

Suez Blockage Claims Expected to Hike Marine Reinsurance Rates, Says Willis Re

The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair of reinsurance broker Willis Re International, told Reuters. Formal investigations began this week into how …

Formal Investigations Begin into How Container Ship Ran Around in Suez Canal

ISMAILIA, Egypt – Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, begin on Wednesday, a canal official told Reuters. The …