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…
The company that bought the ammonium nitrate which exploded in Beirut last August had possible links to two Syrian businessmen under U.S. sanctions for ties to President Bashar al-Assad, according to a report by a Lebanese journalist and London company filings…
The Scottish Maritime Museum has successfully bid for an 80-year-old bottle of whisky salvaged from one of Scotland’s most famous shipwrecks and the inspiration for the Ealing Studio comedy Whisky Galore!The unlabelled bottle of blended whisky from the 1923 SS Politician…
As the scope of the August 4 explosion at the port of Beirut becomes clear, the tolls of the loss of life, injuries, homelessness and property damage are staggering. In the immediate chaos of large explosions, it can be difficult to make sense of what has happened…
In the murky story of how a cache of highly explosive ammonium nitrate ended up on the Beirut waterfront, one thing is clear—no one has ever publicly come forward to claim it.There are many unanswered questions surrounding last week's huge, deadly blast in the Lebanese capital…
Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy Carpenter said on Monday.Overall insured losses…
The devastating explosion in Beirut should be a wake-up call for countries on the dangers of ammonium nitrate, which caused the blast, experts say.Lebanese authorities said 2,750 tonnes of the industrial chemical had been stored for six years at Beirut port without safety measures…
Lebanese authorities have arrested 16 people in an investigation into the Beirut port warehouse explosion, state news agency NNA said on Thursday, and a judicial source and local media said the port's general manager was among those being held…
