Suez Canal Blockage Likely to Bring Large Losses for Global Reinsurers: Fitch March 29, 2021 The blocking of the Suez Canal and resulting disruption to global shipping is likely to cause a large loss event...
Update: Stranded Container Ship Is Refloated; Suez Canal Shipping Traffic Resumes March 29, 2021 By Yusri Mohamed, Nadine Awadalla and Aidan Lewis ISMAILIA, Egypt – Shipping was on the move again late on Monday in Egypt’s Suez Canal after tugs refloated a...
Suez Canal Blockage Could Cost Global Trade $6B-$10B per Week: Allianz March 26, 2021 BERLIN – The container ship blocking the Suez Canal could cost global trade $6 billion to $10 billion a week,...
Container Ship Could Block Suez Canal Like a ‘Beached Whale’ for Weeks March 25, 2021 By Yusri Mohamed, Gavin Maguire and Florence Tan ISMAILIA, Egypt – A huge container ship blocking the Suez Canal like a “beached whale” may take weeks to free,...
Huge Backlog of Ships Waits for Salvage Team to Re-Float Vessel Blocking Suez Canal March 25, 2021 By Salma El Wardany and Ann Koh A huge backlog of vessels was building up around the Suez Canal amid warnings that the salvage team could need...
Insurers of Container Ship Aground in Suez Canal Face Millions in Claims March 25, 2021 By Carolyn Cohn and Jonathan Saul LONDON – The owner and insurers of one of the world’s largest container ships stuck in the Suez Canal face...
Authorities Working to Free Giant Stranded Container Ship Blocking Suez Canal March 24, 2021 By Yusri Mohamed, Jessica Jaganathan and Florence Tan CAIRO – The shortest shipping route from Europe to Asia remained blocked on Wednesday as 10 tug boats struggled to...