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Losses Mount for Chinese Companies as Egypt Seizes Suez Tanker

Losses Mount for Chinese Companies as Egypt Seizes Suez Tanker
The cargo ship Ever Given is seen on March 29 after running aground in the Suez Canal in Eygpt six days earlier. Photo: VCG
Chinese companies with goods on the Ever Given are facing mounting losses due to even longer delays getting their shipments delivered after Egyptian authorities seized the giant cargo vessel and demanded almost $1 billion in compensation for blocking the Suez Canal for about a week.
Setting out from Kaohsiung in southern Taiwan, the now freed container ship made stops at ports including Qingdao, Shanghai and Ningbo, with estimates that over 80% of the goods aboard are from Chinese companies, according to data from freight logistics platform Yunquna. The data showed that the Ever Given was loaded with 18,300 containers carrying goods worth about $3.5 billion. ....

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Suez Canal Authority Seeks $1 Billion In Compensation For Ever Given Crisis

Suez Canal Authority Seeks $1 Billion In Compensation For Ever Given Crisis
Suez Canal Authority Seeks $1 Billion In Compensation For Ever Given Crisis
Comments Off on Suez Canal Authority Seeks $1 Billion In Compensation For Ever Given Crisis
HELIOPOLIS, Egypt The Suez Canal Authority said that they plan on seeking $1 billion in compensation after the Ever Given ran aground and stopped all operations for nearly a week.
The news was announced by the chief executive officer of the Suez Canal Authority, Osama Rabie, in a conversation with local media on March 31.
“We plan to ask for $1 billion in compensation after the 400-meter cargo ship Ever Given, owned by Japanese company Shoei Kisen Kaisha, ran aground on March 23,” he said. “The compensation sum includes the costs of the salvage operation, transit fees that were lost, and the costs associated with stopping all traffic in the canal.” ....

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Egypt may seek $1 billion in compensation over Suez Canal blockage

Egypt may seek $1 billion in compensation over Suez Canal blockage
The figure is an estimate of losses incurred by Egypt over transit fees, damage to the waterway during dredging and salvage efforts. The amount also includes an estimate of cost of equipment and labou
BusinessToday.In | April 3, 2021 | Updated 15:03 IST
Suez Canal blockage 2021
Egypt has said that it might seek $1 billion in compensation after a giant container vessel blocked the Suez Canal for almost a week. The blockage led to disruption in global trade. The figure is an estimate of losses incurred by Egypt over transit fees, damage to the waterway during dredging and salvage efforts. The amount also includes an estimate of cost of equipment and labour, said Suez Canal Authority CEO Osama Rabie to local television channel Sada Elbalad. ....

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Egypt may seek $1 billion in compensation over Suez Canal blockage

Egypt may seek $1 billion in compensation over Suez Canal blockage
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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Egypt May Seek $1 Billion in Compensation for Suez Canal Crisis

Egypt May Seek $1 Billion in Compensation for Suez Canal Crisis
bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.

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