shipping losses News

Owners of Ship that Blocked Suez Make New Compensation Offer with Canal Authority

ISMAILIA, Egypt – The owners of a container ship that blocked the Suez Canal in March have made a new offer in a compensation dispute with the canal authority, and a court ruling on the case was postponed for two …

Suez Canal Blames Container Ship’s Grounding on Its High Speed, Size of Rudder

ISMAILIA, Egypt – The container ship that got stuck in the Suez Canal in March was struggling to steer because of its high speed and the size of its rudder, and could have chosen not to enter the waterway in …

Suez Canal Authority Is Open to Further Talks with Owners of Seized Container Ship

CAIRO – The Suez Canal Authority (SCA) said on Tuesday it was still open to negotiating with the owners of a giant container ship which blocked traffic in the waterway for six days in March despite an ongoing litigation process …

Egypt Court Rejects Appeal to Release Giant Container Ship Seized by Suez Authority

An Egyptian court rejected an appeal by the owner of a giant container ship that blocked the Suez Canal to allow it to leave the country, as a legal dispute over compensation continues. Sunday’s ruling marked the second time Japan’s …

Insurer UK Club Says Suez Canal Ship’s Reduced Claim Is Still Too Big

CAIRO – UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600 million to free the vessel and cover related …

Insurer for Ever Given Container Ship Appeals Detention by Egypt After Suez Grounding

LONDON – UK Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by …

Philippine Rescuers Find Bodies of 4 Crew Members of Abandoned Cargo Ship; 9 Missing

MANILA, Philippines – Rescuers in the southern Philippines found the bodies of four crew members Wednesday and rescued seven others who jumped off a cargo vessel, which took in water and listed after its anchor broke in rough seas, officials …

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 …