Wednesday, October 20, 2021

Suez Canal

Giant ship which blocked Suez Canal finally allowed to resume voyage

The total value of goods destined for Europe but still in 18,300 containers on board is said to be worth over US$600 million.

Suez Canal logjam leads to shortage of toilet paper, garden gnomes

Egyptian authorities have said they will not release the massive ship until its owners agree to pay up to US$1 billion in compensation.

Egypt to seize ship that blocked Suez Canal until US$900 million compensation paid, report says

The Ever Given will be placed under court supervision until the operator fulfils the Suez Canal Authority's demands, report says.

Grounded container ship moved after nearly a week

However, it is still unclear when the Suez Canal can be reopened.

From Ikea furniture to live animals, the cargo stranded in Suez logjam

Industry experts have estimated the total value of goods marooned at sea at anywhere between US$3 billion and US$9.6 billion.

How much is the Suez mishap going to cost?

Up to 90% of shipments are not insured against delays, British maritime shipping publication Lloyd's List says.

Egypt shuts Suez Canal amid struggle to refloat grounded ship

Tug boats, dredgers and heavy earth-moving equipment have been deployed, but so far the ship has not budged.

Minimal impact for Malaysia as ship remains stuck at Suez Canal

Malaysia's trade volume in the region is not large, although there could be delays in some shipments as efforts continue to refloat the 400m Ever Given cargo ship.

Owner, insurers of grounded Suez ship face millions in claims

Dozens of ships are waiting at both ends of the canal, many with perishable cargoes.

Other News