Ever Given News

Lloyd’s of London Sees ‘Large Loss’ Due to Suez Canal Blockage

LONDON — The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss …

With Ship Now Freed, a Probe Into Suez Canal Blockage Begins

SUEZ, Egypt (AP) — Experts boarded the massive container ship Tuesday that had blocked Egypt’s vital Suez Canal and disrupted global trade for nearly a week, seeking answers to a single question that could have billions of dollars in legal …

Suez Canal Works to Clear Backlog as Shipping Convoys Resume

ISMAILIA, Egypt — The Suez Canal expects 140 ships to pass on Tuesday after the freeing of a container ship stranded for nearly a week allowed it to reopen, but experts warned that disruptions to global shipping and at ports …

Insurers May Be on Hook for Millions Tied to Suez Canal Crisis

There were potentially thousands of insurance policies taken out on the steel boxes stacked high on the massive boat blocking the Suez Canal and upending world trade. They could result in millions of dollars in payouts — but first, a …

The Giant Ship Blocking the Suez Canal Is Finally Freed

The giant vessel that’s blocked the Suez Canal for almost a week was pulled free from the bank, a major step toward getting ships moving again along one of the world’s most important trade arteries. The stoppage caused a tailback …

Suez Canal Steps Up Efforts to Remove Blockage, Shipping Rates Surge

CAIRO, March 26 — The Suez Canal stepped up efforts on Friday to free a stuck mega vessel, after an earlier attempt failed to end a blockage that has lifted shipping rates for fuel tankers and disrupted global supply chains …

‘Beached Whale’ Ship Could Block Suez Canal for Weeks

ISMAILIA, Egypt — A container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade. …

Stranded Suez Ship’s Owner, Insurers Face Millions in Claims

LONDON — The owner and insurers of one of the world’s largest container ships stuck in the Suez Canal face claims totaling millions of dollars even if the ship is refloated quickly, industry sources said on Wednesday. The 400-meter, 224,000-tonne …

Tugs Work to Free Giant Container Ship Stranded in Suez Canal

CAIRO — The shortest shipping route from Europe to Asia remained blocked on Wednesday as eight tug boats struggled to free one of the world’s largest container ships after it ran aground in the Suez Canal. GAC, a Dubai-based marine …