A third attempt to refloat the grounded containership Ever Forward was made yesterday. It failed and the ship remains aground in Chesapeake Bay.
Today, shipowner Evergreen Marine said that, “in light of the increasing costs arising from the continued attempts to refloat the vessel,” it had declared General Average (GA). To grossly oversimplify things, GA means that cargo owners get to take a share of the salvage cost. You can find a fuller explanation of what’s involved here.
After the incident...