Suez Canal blockage

Egyptian shipping firm sues Ever Given owners for delay from Suez Canal blockage

In recent reports by Egyptian news broadcaster Sada el-Badad, Egypt’s National Navigation Company has sued the Japanese owner of ‘Ever Given’, Shoei Kisen Kaisha.

The lawsuit has been filed demanding compensation for the loss caused by the six-day blockade of the Suez Canal in March.

The Egyptian firm claims to have suffered a significant loss after its vessel, Wadi Sudr was unable to complete its voyage due to the Suez Canal blockage. The first hearing of the lawsuit was scheduled for Sunday, 21...

https://container-news.com/egyptian-shipping-firm-sues-ever-given-owners-for-delay-from-suez-canal-blockage/

China’s 150 Covid Cases Disrupts Shipping Than Suez Canal Blockage

  • About 150 COVID-19 cases took to snarl sea traffic for four weeks.
  • It caused a shipping disruption that one executive said is worse than the Ever Given’s infamous blocking of the Suez Canal.

According to an article published in Fortune, about 150 COVID-19 cases took to snarl sea traffic for four weeks, causing a shipping disruption that one executive said is worse than the Ever Given’s infamous blocking of the Suez Canal.

Guangdong Outbreak

On May 25, five crew members aboard a container ship in...

https://mfame.guru/chinas-150-covid-cases-disrupts-shipping-than-suez-canal-blockage/

Charting A New Course for A Safer Shipping Industry

  • Prices for global shipping have skyrocketed with follow-through consequences for economies in general
  • An estimated 80% of the world’s goods are transported by sea
  • Oligopolistic and ancient industry structure looks ripe for disruption, but easier said than done

As 2021 is exposing many of the flaws and fragilities of the global shipping industry, disruption seems but the logical response. However, reforming the industry is far easier said than done, writes Ed Kennedy for FN Arena.

Suez canal...

https://mfame.guru/charting-a-new-course-for-a-safer-shipping-industry/

Ever Given Broke Speed Limit Before Running Aground

  • The Ever Given’s speed was 13.5 knots before it ran aground.
  • The Suez Canal speed limit was between 7.6 knots and 8.6 knots.

In the ongoing tit-for-tat between the Suez Canal Authority and Japanese owner Shoei Kisen over who was to blame for the blockage on the key waterway in March, the Egyptians have hit back, reports Splash247.

Ever Given exceeds speed limit

SCA chairman Osama Rabie said Shoei Kisen’s 20,388 teu Ever Given was travelling too fast through the canal and the size of the vessel’s...

https://mfame.guru/ever-given-broke-speed-limit-before-running-aground/

Suez Canal Blockage’s Ripple Effect Affects Shipping Industry

  • Suez Canal blockage effect has rippled and still affects the shipping industry.
  • Severe shortage of containers have pushed freight rates to an all-time high.

It’s been two months for the reason that Suez Canal blockage occurred, however its impression continues to fret the transport commerce as extreme scarcity of containers have pushed freight charges to an all-time excessive to key markets just like the US and Europe, reports The Hindu Business Line.

Worst affected Leather Industry

One of many...

https://mfame.guru/suez-canal-blockages-ripple-effect-affects-shipping-industry/

World Economy Jeopardized, Amidst Covid-19 Outbreak

  • A freak accident in the Suez Canal backed up global shipping in March. Drought has wreaked havoc upon agricultural crops.
  • A deep freeze and mass blackout wiped out energy and petrochemicals operations across the central U.S. in February.
  • Less than two weeks ago, hackers brought down the largest fuel pipeline in the U.S., driving gasoline prices above $3 a gallon for the first time since 2014.
  • Now India’s massive Covid-19 outbreak is threatening its biggest ports.

A recent Yahoo Finance news...

https://mfame.guru/world-economy-jeopardized-amidst-covid-19-outbreak/

Suez Canal Blockage’s Delayed Containers, 54 Of 64 Now Processed

  • 64 container ships en route to Rotterdam that were delayed when the Suez Canal was blocked after the Ever Given ran aground on 23 March.
  • 54 vessels have now been processed, three vessels were cancelled, two are currently being processed, one is at anchor and four are en route.

According to an article published in Marine Insight, 54 of 64 delayed container ships en route To Rotterdam which delayed due to Suez Canal blockage have now been processed.

Rotterdam’s Quality Work

“The Suez Armada is as...

https://mfame.guru/suez-canal-blockages-delayed-containers-54-of-64-now-processed/

Is Suez Canal Blockage Limited by GA & COGSA?

  • Between March 23 and 29, 2021, the Suez Canal was blocked when Ever Given ran aground in high winds and a sandstorm, wedging itself across the canal.
  • It took six days to free Ever Given, while hundreds of other ships carrying billions of dollars of cargo were prevented from timely navigating the canal.
  • Although Ever Given has since been refloated, it is not free to sail to its next port.

A recent Mondaq news report by Julie E. Maurer and Andrew Kleiner raises a question that  does “General...

https://mfame.guru/is-suez-canal-blockage-limited-by-ga-cogsa/

Rise in Ship Orders, Moderating Freight Rates

  • Global freight rates will remain high in the short term, but will moderate in the longer term once shipping supply-chain disruptions are cleared and more new ships are deployed.
  • Global container shipping companies are benefiting from high freight rates.
  • It will help strengthen their balance sheets and offset the impact from increased investments in new vessels on financial metrics.

A recent report by Fitch Ratings reveals that demand for container shipping is high due to the mismatch between...

https://mfame.guru/rise-in-ship-orders-moderating-freight-rates/

Suez Canal Chief Hints At Captain’s Fault for Containership Grounding

As the battle to determine the cause of Ever Given’s grounding in the Suez Canal intensifies, the ship’s captain is at a crossfire. According to a report by the Jakarta Post, the Suez Canal Authorities have suggested that the ship’s captain might have made a mistake that caused the accident.

Rudder or speed mishap

Osama Rabie, the Suez Canal Chairman said at a press conference, “Maybe the captain made a mistake in a specific (operation) request, such as the rudder or speed, which could have led...

https://mfame.guru/suez-canal-chief-hints-at-captains-fault-for-containership-grounding/

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