The Ever Given

Machine Learning Automation Couldn’t Assist Ever Given in Suez Canal

Machine Learning Automation couldn’t keep the Suez Canal unstuck, says an article on ITPro.

The disastrous event in Suez Canal

In late March, the world became distracted from everything else going on — no small feat, considering — when a large boat became stuck in the Suez Canal.

The boat — the Ever Given, a 400-meter-long container ship — ran aground on March 23 in the canal. As a result, more than 400 ships were blocked from passing through the Suez Canal for six days; other ships rerouted to...

https://mfame.guru/machine-learning-automation-couldnt-assist-ever-given-in-suez-canal/

Ever Given Seized Over Financial Disputes

Egyptian authorities impounded a massive cargo vessel that blocked the Suez Canal last month amid a financial dispute with its owner, the canal chief and a judicial official said Tuesday, reports AP News.

Compensation

Lt. Gen. Osama Rabie said the hulking Ever Given would not be allowed to leave the country until a compensation amount is settled on with the vessel’s Japanese owner, Shoei Kisen Kaisha Ltd.

“The vessel is now officially impounded,” he told Egypt’s state-run television late Monday.

https://mfame.guru/ever-given-seized-over-financial-disputes/

Why Q2 Boxship Volume Risk Is Not Demand But Supply

U.S. containerized imports show no sign of letting up as the second quarter begins. On the contrary: Consumer demand is strengthening in the wake of fiscal stimulus and falling inventories that necessitate even more restocking, reports Freight Waves.

Inventory restocking tailwinds

The biggest risk to Q2 container-shipping volume is not demand for goods, it’s transport supply.

Fallout from the Suez Canal accident will constrain vessel and container-equipment availability, leading to longer...

https://mfame.guru/why-q2-boxship-volume-risk-is-not-demand-but-supply/

Statement on the knock-on effect of the Ever Given incident

Statement on the knock-on effect of the Ever Given incident

Nick Austin

Viewers can read the quote below highlighting the knock-on effect of the Suez Canal being blocked.

Nick Austin, shipping partner at global law firm Reed Smith, said:

“With the Ever Given now freed from its temporary resting place, and the backlog of ships starting to clear, attention inevitably turns to counting the cost. Quite apart from fines or compensation claimed by the Egyptian government, dozens of vessels delayed by the...

https://allaboutshipping.co.uk/2021/04/01/statement-on-the-knock-on-effect-of-the-ever-given-incident/

Experts Expect Oil Companies To Reduce Output After Suez Crisis

Traders have to deal with many varied and obscure headlines whilst sitting at their screens. And today is no exception with the Suez Canal potentially getting back to normal while some huge investment banks count the cost of lending to an opaque family office. US stocks have opened lower on the day as markets continue to trade in quiet risk-off fashion, reports FXEmpire.

Whodunnit selling

The dollar is generally mixed to slightly better bid against its major peers with GBP leading the charts and...

https://mfame.guru/experts-expect-oil-companies-to-reduce-output-after-suez-crisis/

World Commerce Resumes With The Suez Canal Crisis Concluded

Almost a week after an errant cargo ship brought a vital maritime passageway to a halt, the Suez Canal is open for business again, reports The New York Times .

The YM Wish

 The YM Wish is the name of the first ship to transit through the Suez Canal almost a week after a colossal cargo vessel navigating the waterway zigged when it should have zagged (though perhaps going straight would have been even better) and wedged itself tight into the side.

The YM Wish is a 1,207-foot-long Hong Kong-flagged...

https://mfame.guru/world-commerce-resumes-with-the-suez-canal-crisis-concluded/

Suez Congestion Aids Bunker Fuel Demands In Singapore

The Suez Canal logjam since the week starting March 21, caused by the Ever Given cargo vessel, could potentially increase bunker fuel demand in Singapore as more ships will likely divert around the Cape of Good Hope, making the city-port a feasible refueling destination, given the longer journey, reports S&P Global.

The blockage is no more

The Ever Given, an about 20,000 twenty-foot equivalent units container ship chartered by Taiwan’s Evergreen Marine, ran aground in the Suez Canal at about...

https://mfame.guru/suez-canal-blockage-may-help-increase-bunker-fuel-demand-in-singapore/

US Navy On Alert Over Potential Pirate Attacks In The Cape Of Good Hope

Multiple shipping companies are reportedly contacting the U.S Navy about the potential risks of piracy for ships traveling around Africa to avoid the blocked Suez Canal, the Financial Times reported Friday, amid growing concerns that the sky-scraper-sized ship may end up blocking one of the world’s busiest shipping lanes for weeks, reports Forbes.

Key Facts 

With the Suez Canal blocked, ships can either drop anchor and wait or take a lengthy detour, most likely around Africa.

The region has a well-...

https://mfame.guru/us-navy-on-alert-over-potential-pirate-attacks-in-the-cape-of-good-hope/

Global Trade Disruption in Suez, May Take Months To Stabilize

  • The six-day blockage of the Suez Canal by a massive cargo ship has triggered a series of disruptions to global trade.
  • It could take weeks, possibly months, to unravel, said Maersk, the world’s largest container shipping company.
  • The Ever Given had been partially refloated as of Monday morning, but not yet fully dislodged.

A Yahoo News report highlights Maersk opinions on how the global trade has been deeply affected global trade.

What does Maersk say?

Maersk said that it’s too early to say...

https://mfame.guru/global-trade-disruption-in-suez-may-take-months-to-stabilize/

Ship Stuck In The Suez Canal Successfully Refloated After 6 Days

Egyptian workers have been able to refloat the Ever Given after it spent six days stuck in the Suez Canal. The stranded container ship blocking the crucial trade route was refloated on Monday at around 5:42am (2:42pm AEDT) and is currently being secured, Inch Cape Shipping Services said in a post on Twitter, reports The Sydney Morning Herald. A sign of relief 

Egyptian workers have been able to refloat the Ever Given after it spent six days stuck in the Suez Canal.

The stranded container...

https://mfame.guru/ship-stuck-in-the-suez-canal-successfully-re-floated-after-6-days/

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