monkeytassle
Striker
They are tearing hair out. Claims for fuel. Delayed delivery. Idle time. Perishable cargo. This is going to be brutal for insurers
Suez Canal blocked
- Thread starter Monty Pigeon
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Jasper
Striker
Sounds like it could be catastrophic for them like.
luvulongtime
Striker
the bloodsucking leeches will just pass the cost on in increased premiums to the general public
Occam's Razor
Striker
That's a phenomenally good article, best thing I've read about the subject.
Willincity
Midfield
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Issue will be resolved within a week.
Some big jacks underneath, jack it right up, other boats can sail underneath to clear the backlog, then let it down again when there's a bit of a gap to try and sort it out.
That's brilliant, so clearly explained.
(and 'part-time boat correspondent for the Financial Times' sounds like a canny job).
timelapse of transiting through the canal
Surprised the Americans haven't carpet bombed it yet to clear the passage.
The claims fall-out from this will be enormous. Putting aside the huge liabilities which face the owners of the vessel concerned (or more particularly their club - albeit these claims will be so big as to be poolable across the IG), every single one of the backlogged ships will probably now have disputes live, or disputes brewing. On top of the bill of lading (cargo) claims, the average bulk carrier which is stuck will be chartered at about US$20,000/day. The average suez max tanker will be chartered at double or even treble that. Everyone - owners/carriers, charterers, receivers - will be taking legal advice and looking for their own best way out. The huge time/fuel cost of going the long way around, means that amicable commercial agreements will be very difficult to reach. It’s a seismic mess.
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bobster999
Winger
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Raker
Winger
How fitting
Frustration Continues As Suez Canal Ship Blocks Huge Sex Toy Shipment
A shipment of Sex Toys from EDC Retail have been blocked by the ship stuck in the Suez Canal.
www.ladbible.com
Suez Canal: Fresh effort to refloat wedged container ship Suez Canal: Fresh effort to refloat wedged container ship
No Trump otherwise you know he's giving press conferences orating on America's great, great canals and suggesting sending a fleet of helicopters to carry it back out to sea.
In relation to the claims discussion: Does the operator of the canal guarantee passage? I presume you need to book in advance, however, I also presume they’re not daft and have clauses within the terms so they aren’t liable for additional cost or time delay if the canal isn’t operational. Any vessel who have elected to go around the horn have done so to mitigate their arrival date delay. There will be cargo in these vessels which will be subject to LDs so the knock on claims could be massive, but I can’t see that the canal operators would leave themselves wide open, certainly not in a captive market.
Vessels which have been caught up mid navigation is a slightly different story.
Vessels which have been caught up mid navigation is a slightly different story.
monkeytassle
Striker
It's clearly not the fault of the canal operator here. I can certainly imagine the operators of the ever given facing some devastating claims
In relation to the cargo they have on board, damage to the canal and then limited to vessels which have been directly caught up due to the accident.
Those which set sail after this happened or were approaching, I’m not so sure.
Don’t get me wrong, every vessel which is delayed will have client claims for late delivery and additional fuel costs which they will look to seek reimbursement for. But I’m not sure they have a clear cut case back to the owners of Ever Given.
Their contract is with the Canal operator and (without having read the contracts), they’d be mad to not have included clauses to indemnify themselves against problems such as this.
