shipping losses News

Insurer UK Club Says Suez Canal Ship’s Reduced Claim Is Still Too Big

CAIRO – UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600 million to free the vessel and cover related …

Insurer for Ever Given Container Ship Appeals Detention by Egypt After Suez Grounding

LONDON – UK Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by …

Philippine Rescuers Find Bodies of 4 Crew Members of Abandoned Cargo Ship; 9 Missing

MANILA, Philippines – Rescuers in the southern Philippines found the bodies of four crew members Wednesday and rescued seven others who jumped off a cargo vessel, which took in water and listed after its anchor broke in rough seas, officials …

Seized Suez Ship Declared Fit for Onward Passage (Once Compensation Is Paid)

CAIRO – The cargo vessel that blocked global shipping in the Suez Canal and is caught in a legal dispute in Egypt is fit to sail once approval is given, its technical manager said on Wednesday. The Ever Given was …

Update: Egypt Seizes Container Ship that Blocked Suez, Pending $916M Compensation

Egypt seized a giant container vessel that blocked the Suez Canal last month as it sought compensation of more than $900 million. A court in the city of Ismailia granted a seizure request regarding the Ever Given vessel at the …

Suez Canal Authority Still in Talks About Compensation for Grounding of Container Ship

Egypt is still in talks about compensation stemming from the operations to free the giant container ship whose stranding in the Suez Canal for nearly a week roiled global cargo markets, the canal authority’s chief said Monday. It’s likely that …

Suez Canal Blockage Continues to Disrupt Global Trade, Hitting Supply Chains

LONDON/LOS ANGELES – A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade, industry sources say. Dozens of container …

Report Highlights Need for Better Risk Management on Europe’s Container Ship Routes

A Dutch safety watchdog said Thursday [June 25] that it is “undesirable” for large container ships to use a shipping route through an environmentally sensitive, shallow sea off the coast of the Netherlands, Germany and Denmark in heavy northwesterly storms …

Dutch Authorities Raise Number of MSC’s Containers Lost in North Sea Storm

Dutch authorities say a freight ship lost dozens more containers than previously thought when it was caught in a heavy storm early this year. The Dutch water authority said Wednesday that at least 345 containers fell off the MSC Zoe …

Cable and Pipe-Laying Ship Capsizes near Singapore After Tanker Collision

An undersea cable and pipe-laying ship, the Vanuatu-flagged MV Star Centurion, capsized in the Indonesian waters of the Singapore Straits after a collision with a tanker on Sunday, with no fatalities, authorities said on Monday [Jan. 14]. The Singapore Straits …