{"id":563729,"date":"2021-07-14T04:00:12","date_gmt":"2021-07-14T04:00:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/14\/gone-but-not-forgotten\/"},"modified":"2021-07-14T04:00:12","modified_gmt":"2021-07-14T04:00:12","slug":"gone-but-not-forgotten","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/14\/gone-but-not-forgotten\/","title":{"rendered":"Gone but not forgotten"},"content":{"rendered":"

<\/a> The Ever Given has left Suez. But Suez hasn\u2019t left the Ever Given.<\/strong> The owner of the ship responsible for blocking the Suez Canal for almost a week in March is set to be hit by \u201cmany hundreds of thousands\u201d of lawsuits, according to Bloomberg<\/a>. Two subsidiaries of owner Shoei Kisen won a court order in London yesterday that will put claims on hold for two months, amid expectations that individual cargo owners will soon file thousands of claims against the company, as will the ship\u2019s charterer Evergreen Marine Corp.<\/p>\n

The company could be in for years of litigation<\/strong> as everyone affected by the incident \u2014 which had global ramifications, heavily disrupting trade across the world \u2014 files claims and seeks damages. Fitch Ratings earlier estimated that claims can easily surpass hundreds of mns of EUR<\/a>, and that it would affect marine reinsurers in particular.<\/p>\n

Yesterday\u2019s court order could ease the process a little:<\/strong> The stay could help reduce legal costs for the company by giving the court time to bundle together similar and overlapping claims.<\/p>\n

The cost: USD 540 mn and counting. <\/strong>Shoei Kisen and its ins. companies have reportedly paid out USD 540 mn<\/a> in compensation to the Suez Canal Authority.<\/p>\n

The Ever Given was <\/strong>released from the Suez Canal<\/a><\/strong> on 7 July<\/strong> after the ship's owners agreed to a compensation settlement with the SCA after months of negotiations.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ever Given has left Suez. But Suez hasn\u2019t left the Ever Given. The owner of the ship responsible for blocking the Suez Canal for almost a week in March is set to be hit by \u201cmany hundreds of thousands\u201d of lawsuits, according to Bloomberg. Two subsidiaries of owner Shoei Kisen won a court order […]<\/p>\n","protected":false},"author":1,"featured_media":563730,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8996],"tags":[957,72,134,181,3936,7103,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-suez-canal","tag-dispute-watch","tag-enterpriseam","tag-ever-given","tag-insurance","tag-shoei-kisen","tag-suez-canal","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"e19a20d8-cbc0-42a7-a36d-3fd425817f31","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/200.jpg","photo_position":"above","related_issue":[563721],"teaser":"","voice_url":""},"yoast_head":"\nGone but not forgotten - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/14\/gone-but-not-forgotten\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gone but not forgotten\" \/>\n<meta property=\"og:description\" content=\"The Ever Given has left Suez. 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A decision from the court last month had allowed\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/38.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561946,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/27\/potential-compromise-to-end-ever-given-dispute\/","url_meta":{"origin":563729,"position":2},"title":"Potential compromise to end Ever Given dispute?","author":"enterpriseam admin","date":"27 April 2021","format":false,"excerpt":"The Suez Canal Authority seems to be signalling it wants to strike an agreement to set the Ever Given free. 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