by Carolyn Cohn (Reuters) – The recent blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers,…
suez canal closure impact
Carriers Warned Against Price Gouging Shippers with Suez Chaos
By Mike Wackett (The Loadstar) – Ocean carriers have been warned not to take advantage of the capacity crunch resulting from the Suez blockage to “price-gouge” their customers. Following reports that shipping…
Suez Canal Racing to Clear Huge Backlog of Ships
By Nadeen Ebrahim ISMAILIA, Egypt March 30 (Reuters) – The Suez Canal expects 140 ships to pass on Tuesday after the freeing of a container ship stranded for nearly a…
So How Much Did The Blocked Suez Canal Crisis Cost?
By Aaron Clark (Bloomberg) — The immediate crisis of the Suez Canal blockage has ended, but the battle over damages from the waterway’s longest closure in almost half a century…
Shipping Companies Counting Cost of Suez Chaos
By Jonathan Saul and Carolyn Cohn LONDON, March 29 (Reuters) – The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24…
Suez Chaos Will Take Months To Clear Says Maersk
by Nikolaj Skydsgaard (Reuters) – The stranding of a container ship in the Suez Canal has created disruptions in the global shipping industry that could take weeks and possibly months to…
Global Economy Girds for Latest Supply Jolt in Suez Mess
By Brendan Murray and Bryce Baschuk (Bloomberg) – Six thousand miles from the Suez Canal in the U.S. Midwest, the chief executive of a multinational maker of industrial adhesives has one…
Suez Canal Updates: More Vessels Diverted Around Africa, More Tugs Arriving
By Salma El Wardany, Mirette Magdy and Jack Wittels (Bloomberg) — Tugs working to refloat the Ever Given managed to shift the stricken container ship 29 meters on Saturday, and dredgers…
Sheep Bake Aboard Ships Waiting For Suez Canal To Reopen
By Michael Hirtzer (Bloomberg) – Of all the millions of tons of cargo that’s piled up in the Suez Canal, none is more delicate than the animals crammed into the hulls…
Shipping Lines Considering Cape Surcharge for Ships Re-Routed Around Africa
By Mike Wackett (The Loadstar) – Container spot rates from Asia to Europe look set to surge again, as carriers are obliged to blank sailings in response to the Suez Canal blockage….