Japan Chipmaker Renesas Says Normal Production at Fire-Hit Plant to Take 100-120 Days March 30, 2021 By Eimi Yamamitsu TOKYO – Japanese chipmaker Renesas Electronics said on Tuesday it would take at least 100 days to get back to...
Insurance Unlikely to Cover All Shipowners’ Expenses Incurred in Suez Closure Chaos March 30, 2021 By Jonathan Saul and Carolyn Cohn The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at...
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...
Japanese Carmakers Assess Effect on Supply Chain of Renesas Chip Plant Fire March 22, 2021 TOKYO – Toyota, Nissan, Honda and other Japanese carmakers scrambled on Monday to assess the impact on their production of...
UK Businesses Are Being Hit with Post-Brexit Delays, Bureaucracy – And Higher Costs February 1, 2021 By Lizzy Burden Truckloads of British pig meat waiting to be shipped to Germany and stuffed into bratwursts perished at UK ports this...