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Deal Reached to Release Cargo Ship that Blocked Suez Canal
The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7.The Suez Canal Authority (SCA) has held the giant ship and its crew in a lake between two stretches of the waterway since it was dislodged on March 29, amid…
Ever Given Operator Says More Time Needed for Ship Release
The operator of a giant cargo ship that blocked the Suez Canal in March said on Thursday that it would take more time for the vessel to be released from detainment while a final agreement with Egyptian authorities was being concluded.The Japanese owners and insurers of the ship were locked in a compensation dispute with the Suez Canal Authority (SCA), but announced on Wednesday that an agreement in principle had been reached."It may take some further time for the agreement to be concluded…
Agreement in Principle Reached Over Ever Given
A representative for the owners and insurers of a giant cargo ship that blocked the Suez Canal in March on Wednesday said that an agreement in principle had been reached in a compensation dispute with the canal authority.Work was under way to finalize a signed settlement agreement as soon as possible and arrangements for the release of the Ever Given vessel would be made after formalities had been dealt with…
New Compensation Offer Made Over Suez Canal Blockage
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 weeks on Sunday to allow more time for negotiations.The giant Ever Given container ship has been anchored in a lake between two stretches of the canal since it was dislodged on March 29. It had been grounded across the canal for six days…
Suez Canal Controlled Ever Given's Speed Before It Grounded, Insurer Says
The speed of a container ship that blocked the Suez Canal in March was controlled by the Egyptian waterway’s operator before it ran aground, the vessel’s insurer said on Thursday.The statement from UK Club came after the head of the Suez Canal Authority (SCA) said the ship was sailing too fast when it became grounded, but that the canal bore no responsibility.The Ever Given, one of the world’s largest container ships, is still being held in the canal while both sides continue compensation talks.
Egyptian Court Delays Hearing in Ever Given Compensation Case
An Egyptian court on Saturday postponed a hearing in a compensation case filed by the Suez Canal authority against the owners of a container ship that blocked the canal for six days in March, giving the sides more time to negotiate, legal sources said.The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.The Suez Canal Authority (SCA) initially demanded $916 million in c
Containership Grounds in the Suez Canal
A Singaporean flagged containership has been refloated hours after running aground in the Suez Canal, a local agency said.The 366-meter, 13,100 TEU Maersk Emerald…
Suez Canal Blames Ever Given Grounding on Speed, Rudder
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 bad weather, the canal authority's head told Reuters.The comments by Suez Canal Authority (SCA) Chairman Osama Rabie on Thursday come amid a dispute over compensation with the owner and insurers of the Ever Given container ship…
Suez Canal Authority Still Open to Negotiation with Ever Given Owner
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 in an Egyptian court.The Ever Given, one of the world's largest containerships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.On Sunday the court rejected a claim by Shoei Kisen, the Japanese owners of the
Court Allows Suez Canal to Keep Holding Ever Given
An Egyptian court on Sunday rejected a complaint by the Japanese owner of a container ship that blocked traffic in the Suez Canal for six days in March against the vessel's continued detention by canal authorities, a lawyer said.The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.The complaint was attached to a case at the economic court in Ismailia in which the Suez C
Shipowner Blames Suez Canal for Ever Given Grounding
The owner of a container ship that blocked the Suez Canal in March says the canal authority was at fault over its grounding as it disputes the vessel's detention and a compensation claim, a lawyer representing the owner said on Saturday.The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23, and remained grounded for six days, blocking traffic in both directions and disrupting global trade.The vessel has since been held in a lake betw
Suez Canal Starts Dredging Work to Extend Double Lane
The Suez Canal Authority (SCA) has started dredging work to extend a second lane that allows for two-way traffic in a southern section of the canal near to where a giant container ship got stuck for six days in March, it said on Saturday.The SCA announced this week that it was planning to extend a second canal lane that opened in 2015 by 10 km to make it 82 km long, and would widen and deepen a single lane stretch at the southern end of the canal.The work had begun following directives from Egyp
Suez Canal Expansion Plans Lift Dredging Firm Boskalis
Shares in Dutch marine services provider Boskalis jumped on Wednesday, a day after the Suez Canal unveiled a project to expand the southern stretch of the waterway.The Suez Canal Authority plans to expand and deepen its southern section, where a container ship became jammed and blocked traffic for six days in March, throwing international supply chains into disarray.Back in 2014, Egypt signed contracts with six international firms to carry out dredging of the Suez Canal…
Ever Given Grounding Spurs Suez Canal Expansion Plans
The Suez Canal Authority (SCA) plans to expand and deepen the southern stretch of the waterway where a containership became jammed and blocked traffic for six days in March, Chairman Osama Rabie said in a televised address on Tuesday.Rabie presented the plan at an event attended by Egyptian President Abdel Fattah al-Sisi, who indicated that the project should be completed in 24 months at most.The SCA…
Ever Given Insurer Says Egypt's Reduced Claim is Still Too High
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 losses was still "exceptionally large".The Suez Canal Authority (SCA) adjusted its claim from an initial $916 million in an effort to settle out of court, SCA head Osama Rabie told private TV network MBC Masr on Saturday.The Ever Given…
How Event-driven Technologies Can Transform the Shipping Industry
The Suez Canal blockage laid bare many of the challenges being faced by the global shipping industry today. With 12% of global trade passing through the canal each day, the total revenue lost from delayed, damaged or lost goods due to its blockage is estimated to be up to $10 billion. Many of the organizations that faced a logistical nightmare in the face of the Ever Given blockage struggled to respond…
Egyptian Court Rejects Appeal Against Ever Given Detention in the Suez Canal
An Egyptian court on Tuesday ruled that the containership which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its detention, a judicial source said.The Ever Given, one of the world's largest container ships, got jammed across the canal on March 23 and remained stuck for six days, stopping traffic in both directions.It has been held in a lake between two stretches of the canal since being dislodged on March 29…
Three More Ever Given Crew Members Cleared to Go Home
Three crew members aboard the cargo vessel that blocked global shipping in the Suez Canal last month will be allowed to return home, the ship’s manager said on Thursday.The Ever Given has been anchored in a lake between two sections of the canal since being dislodged on March 29 and is caught in a legal dispute linked to a $916 compensation claim made by the Suez Canal Authority (SCA) against the ship’s Japanese owner.“Our utmost priority remains the safety and wellbeing of our crew.
Suez Canal Hopes for Deal on Detained Ever Given
The head of the Suez Canal Authority (SCA) said on Monday he hoped talks would soon yield an agreement with the owner and insurer of a giant container ship which is still being detained since it blocked the waterway for six days last month.The 400-meter Ever Given became wedged diagonally across the canal in high winds on March 23, blocking all traffic. Since it finally came unstuck, it has been held with its cargo in a lake separating two stretches of the canal.
Ever Given's Insurer Appeals Detention by Egypt
UK P&I 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 authorities.The Ever Given has been anchored in a lake between two sections of the canal since being dislodged on March 29 and is caught in a legal dispute linked to a $916 compensation claim made by the SCA against the ship's Japanese owner.UK Club, the Ever Given's protection & indemnity (P&I) insurer,
