Severe, unforecasted winds caused a containership to breakaway from a pier and damaged equipment at the Napoleon Avenue Container Terminal in New Orleans on Aug. 2, 2020, according to the National Transportation Safety Board.As longshoremen…
Thousands of Lebanese gathered near the port of Beirut on Wednesday to mark the first anniversary of a catastrophic explosion that devastated the city, demanding justice for the victims.One year since the disaster, caused by a huge quantity of ammonium nitrate stored unsafely at the port for years…
The owners of a container ship that blocked the Suez Canal in March have made a new offer in a compensation dispute with the canal authority, and a court ruling on the case was postponed for two weeks on Sunday to allow more time for negotiations…
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 losses was still 'exceptionally large'…
Three crew members aboard the cargo vessel that blocked global shipping in the Suez Canal last month will be allowed to return home, the ship’s manager said on Thursday.The Ever Given has been anchored in a lake between two sections of the canal…
UK P&I 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 authorities.The Ever Given has been anchored in…
The six-day blockage of the Suez Canal by the Ever Given has resulted in numerous trade and supply chain disruptions for businesses that depend on timely shipments. At least 400 cargo ships were stuck and many forced to reroute. Businesses may…
A ship that blocked the Suez Canal for almost a week in March has not been given clearance to leave the waterway as discussions continue over a compensation claim made to the vessel’s owner Shoei Kisen, an official from the Japanese company said on Tuesday…
Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars.International supply chains were thrown…
The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair of reinsurance broker Willis Re International, told Reuters.Formal investigations began…
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 clear, top container shipping lines said.Around 30% of the world’s shipping container volume - including goods like sofas…
The blocking of the Suez Canal by one of the world’s largest container ships is likely to result in losses worth hundreds of millions of euros for the reinsurance industry, Fitch Ratings said, even as rescue teams were successful in partially refloating the vessel on Monday…
A stranded container ship blocking the Suez Canal threatens to make it even more difficult for European and U.S. retailers to keep products in stock during the coronavirus pandemic.The Suez Canal saga that began on Tuesday and could go on for weeks…
Efforts to dislodge a giant container ship blocking the Suez Canal have allowed its stern and rudder to move, but it remains unclear when the vessel will be refloated, the head of the canal authority said on Saturday.The 400 metre (430 yard)…
A Lebanese court on Thursday dismissed a judge who had charged top politicians with negligence over last year’s Beirut port explosion, infuriating families of victims who said it showed that the state would never hold powerful men to account…
