Suez: Long term implications ??

[Undried Plum]

Storm damage most emphatically is insurable.

The problem with the storm 'theory' is that there were 21 ships in that convoy. Only one of them did what the casualty vessel did.

Tens of thousands of ships have passed that spot in recent years. There's never been an accident quite like this one.

I'll be interested to read the accident report, if an unredacted and honest one is ever (no pun intended) published.

Simultaneous groundings do happen though. There was one only the day before yesterday. Two ships grounded at almost exactly the same time just after entering the Great Bitter Lake in a Northbound convoy.

[1DC]

The Owners have declared General Average. That will take some assessing! I imagine that anyone with cargo on board will be waiting quite a while..

[ian16th]

Disastrous consequences of the Suez blockage.

[llondel]

The Owners have declared General Average. That will take some assessing! I imagine that anyone with cargo on board will be waiting quite a while..

If they didn't lose any cargo then how can they declare General Average?

[1DC]

The way I would interprete it would be that they would expect everyone who had cargo aboard to share in the costs

[1DC]

By this I only mean for any claims associated with the cargo receivers. The main stuff associated with the canal authorities claims from other shipowners etc. will be down to the P & I clubs and their reinsurers.. I am sure it will be very complicated and way beyond my knowledge level, which, seeing as it is fifty years since I left the sea is not very much!!

[PHXPhlyer]

Egypt impounds Ever Given ship over $900m Suez Canal compensation bill
https://www.cnn.com/2021/04/13/business ... index.html

Egypt impounds Ever Given ship over $900m Suez Canal compensation bill
By Mostafa Salem, Mai Nishiyama and Pamela Boykoff, CNN

Updated 5:41 PM ET, Tue April 13, 2021

(CNN)Egyptian authorities have seized a massive cargo ship which blocked the Suez Canal for almost a week last month, amid a dispute over financial damages, the state-run Al Ahram news outlet said on Tuesday.

An Egyptian court ordered the vessel's Japanese owner, Shoei Kisen Kaisha, to pay $900 million in compensation as a result of losses inflicted when the Panamanian-flagged Ever Given prevented marine traffic from transiting through the vital global trade waterway.
The hefty bill also includes maintenance fees and the costs of the rescue operation, Al Ahram reported.
An international salvage operation worked around the clock to dislodge the ship from the banks of the canal, intensifying in both urgency and global attention with each passing day, as ships from around the world, carrying vital fuel and cargo, were prevented from entering the canal.
The Ever Given was successfully re-floated on March 29 and moved to the nearby Great Bitter Lake to be inspected for seaworthiness and to allow repairs to be carried out.
Shoei Kisen Kaisha said insurance companies and lawyers were working on the compensation claim, and refused to comment further.
UK Club, the protection and indemnity insurer for the Ever Given, said Tuesday that they had responded to a claim from the Suez Canal Authority for $916 million, and questioned its basis.
"Despite the magnitude of the claim which was largely unsupported, the owners and their insurers have been negotiating in good faith with the SCA. On 12 April, a carefully considered and generous offer was made to the SCA to settle their claim," the statement said.
UK Club says it is the insurer of the Ever Given for certain third-party liabilities including obstruction claims or infrastructure issues, but is not the insurer for the vessel itself or the cargo.

Its statement went on to explain why UK Club believes the magnitude of the claim is not valid. "The SCA has not provided a detailed justification for this extraordinarily large claim, which includes a US$300 million claim for a "salvage bonus" and a US$300 million claim for "loss of reputation." The grounding resulted in no pollution and no reported injuries. The vessel was re-floated after six days and the Suez Canal promptly resumed their commercial operations. The claim presented by the SCA also does not include the professional salvor's claim for their salvage services which owners and their hull underwriters expect to receive separately," the UK Club statement said.
The ship's cargo has been seized until the dispute is resolved, according to the Suez Canal Authority.
More than 400 ships were blocked from passing through the crucial shipping lane when the Ever Given ran aground on March 23. The circumstances that led to the situation are still being probed separately by Egyptian authorities.

PP

[Undried Plum]

the situation are still being probed separately by Egyptian authorities.

Buggah!


I hate it wen dat 'appns.


****.

[TheGreenGoblin]

How the ship was finally freed, before being trapped by the Egyptians!

https://www.theguardian.com/world/2021/ ... -was-freed

[1DC]

Disagreement between pilots on Ever Given ahead of grounding, see www.insurancemarinenews.com

Recordings from the Evergiven's black box clearly shows that the pilots were arguing and disagreeing before they screwed up and put the ship aground, doesn't say wether the Old man tried to intervene which would give some allocation of blame to the ship if he didn't.

[Woody]

https://www.bbc.co.uk/news/world-middle-east-57746424

[Undried Plum]

As at 15:40z today:




Looking forward to some nice big fat juicy insurance profits on her next voyage!

I'm sure all the tug owners in the Canal will be looking forward to quoting her a price too.

[Undried Plum]

She arrived alongside the wall in Rotterdam at 05:00 local this morning.

[compo]

Some close-up pics of the damaged hull

[Undried Plum]

She's currently languishing offshore Chingdao.

Waiting for resurrection, or whatever the floaty equivalent for a floating thing is.

I'm neither competent nor authorised to say what some marine insurers say.

[Undried Plum]

She's ever so slightly ****, I'd say.

[Wodrick]

Nah, speed tape.

[Undried Plum]

Yup.

That'll do it.


Run 'er up at extra high speed up that Bangla beach.

Environmental recycling, don't cha know.

Aw rahyt!

[OFSO]

According to an utterly reliable site I just accessed, US Special Forces stormed the boat while it was grounded in the Canal and found a nuclear weapon and children being trafficked by Hilary Clinton's possibly satanic organisation. Why on earth the mainstream media hasn't reported this I can't imagine.

https://mynews.one/the-real-story-behin ... ver-given/

[Undried Plum]

PhoneyTonyBlahblahblaBLiar should include that in his manifesto.

Invade Suez.