{"id":565267,"date":"2021-03-30T14:03:45","date_gmt":"2021-03-30T14:03:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/operation-ever-given-is-over-operation-pass-the-buck-begins\/"},"modified":"2021-03-30T14:03:45","modified_gmt":"2021-03-30T14:03:45","slug":"operation-ever-given-is-over-operation-pass-the-buck-begins","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/operation-ever-given-is-over-operation-pass-the-buck-begins\/","title":{"rendered":"Operation Ever Given is over. Operation Pass the Buck begins."},"content":{"rendered":"

<\/a> An investigat<\/strong>ion to determine what went wrong with the Ever Given is <\/strong>underway<\/strong>, with a team of experts boarding the refloated vessel this morning searching for answers, the Associated Press<\/a> reports, quoting a senior canal pilot speaking on the condition of anonymity. The probe is expected to reveal details about what exactly caused the giant container ship to run aground last week. The ship, which is currently anchored in the Great Bitter Lake while the investigation unfolds, will also be checked for damage.<\/p>\n

The results could mean years of litigation and a flood of ins. claims. <\/strong>Payouts would cover the repair of potential damages, undo dredging on the canal\u2019s embankment, and compensate cargo owners for the inconvenience. It would be nothing short of a \u201cmerry-go round\u201d of court action and ins. claims by everyone affected \u2014 whether shipping lines, manufacturers, or oil producers, Bloomberg<\/a> cited legal experts as saying. Goods owners will seek compensation from shipowner Shoei Kisen, which has already held its hands up to the incident but said that the charterers will be responsible for compensating the cargo owners. Fitch Ratings estimated yesterday<\/a> that claims can easily surpass hundreds of mns of EUR, and that it would particularly affect marine reinsurers.<\/p>\n

Egypt will likely be paid by Shoei Keisen for services rendered to the ship<\/strong>, and the Suez Canal Authority will be entitled to slap on fines, law firm Clyde and Co. said, according to the AP. Former SCA boss Mohab Mamish said earlier this week<\/a> that the country could claim damages as the blockage had cost the state some USD 15 mn in foregone daily revenues. The SCA said the fault lies with the Ever Given\u2019s captain, and not the two Egyptian canal pilots who boarded the vessel for guidance.<\/p>\n

Besides losses for insurers, freight rates are also expected to continue rising<\/strong> due to a more tight availability of vessels. Many ships are still stuck and others are taking longer after having rerouted to round the Cape of Good Hope, Bloomberg quoted Arthur Richier, a senior freight analyst at energy market intelligence firm Vortexa, as saying.<\/p>\n

There could be \u201cripple effects'' on global shipping: <\/strong>The backlog of delayed ships will lead to a surge in arrivals at ports over the next weeks, or possibly months, and add strain to an industry already pressured from the pandemic, Reuters<\/a> said, citing the world\u2019s two largest container shipping companies. We could see significant global shortages in capacity and equipment, Maersk told its clients yesterday. \u201cWe envisage the second quarter of 2021 being more disrupted than the first three months, and perhaps even more challenging than it was at the end of last year,\u201d MSC, meanwhile, said in a statement cited by the newswire.<\/p>\n

More than 200 ships are still waiting to transit: <\/strong>As of dispatch time, at least 200 of the 422 ships left stranded in the Red Sea and the Mediterranean had transited the canal, according to statements President Abdel Fattah El Sisi made to reporters (watch, runtime: 2:07<\/a>). All ships are expected to have passed in the next three days, El Sisi said.<\/p>\n","protected":false},"excerpt":{"rendered":"

An investigation to determine what went wrong with the Ever Given is underway, with a team of experts boarding the refloated vessel this morning searching for answers, the Associated Press reports, quoting a senior canal pilot speaking on the condition of anonymity. The probe is expected to reveal details about what exactly caused the giant […]<\/p>\n","protected":false},"author":1,"featured_media":565268,"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":[10111],"tags":[633,134,181,7103,239],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-suez-canal","tag-enterprisepm","tag-ever-given","tag-insurance","tag-suez-canal","tag-supply-chain","wpautop","entry"],"acf":{"mongo_id":"559e5503-7570-4f02-a83a-fa6f30bd4f66","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/588.jpg","photo_position":"above","related_issue":[565263],"teaser":"","voice_url":""},"yoast_head":"\nOperation Ever Given is over. Operation Pass the Buck begins. - 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\/03\/30\/operation-ever-given-is-over-operation-pass-the-buck-begins\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Operation Ever Given is over. Operation Pass the Buck begins.\" \/>\n<meta property=\"og:description\" content=\"An investigation to determine what went wrong with the Ever Given is underway, with a team of experts boarding the refloated vessel this morning searching for answers, the Associated Press reports, quoting a senior canal pilot speaking on the condition of anonymity. 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The number of ships passing through the Canal also rose by some 4.8% to\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\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561219,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/so-long-farewell\/","url_meta":{"origin":565267,"position":1},"title":"So long, farewell","author":"enterpriseam admin","date":"30 March 2021","format":false,"excerpt":"At least 113 container ships are traveling in both directions after the Suez Canal reopened to marine traffic yesterday evening, with more ships set to sail as of today 8am, Suez Canal Authority (SCA) boss Osama Rabie said at a presser yesterday (watch, runtime: 32:00). 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Acquiring new cranes that could vertically offload cargo from up to 52 metres is also on the authority\u2019s radar,\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561507,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/pay-up-then-you-can-take-the-ever-given-wherever-you-want\/","url_meta":{"origin":565267,"position":3},"title":"Pay up, then you can take the Ever Given wherever you want","author":"enterpriseam admin","date":"11 April 2021","format":false,"excerpt":"The Suez Canal Authority won\u2019t let the mega container ship that blocked the Suez Canal last month get underway until its owner agrees to pay compensation, SCA chairman Osama Rabie suggested in a televised interview on Thursday (watch, runtime: 22:19). \u201cThe vessel will remain here until investigations are complete and\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\/internal\/536550.png?resize=350%2C200&ssl=1","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":565267,"position":4},"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. The Suez Canal Authority (SCA) will offer \u201cgreat\u201d considerations to the owner of the Ever Given mega container ship that blocked the Suez Canal in March to ensure talks to\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\/4\/282.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561294,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/01\/and-now-we-investigate\/","url_meta":{"origin":565267,"position":5},"title":"And now, we investigate","author":"enterpriseam admin","date":"1 April 2021","format":false,"excerpt":"The Suez Canal Authority\u2019s (SCA) investigation into the Ever Given\u2019s grounding is now officially underway. Officials from the SCA will board the vessel today to begin their probe into the crew\u2019s actions in the moments leading to the ship running aground in the Suez Canal last week Sayed Sheaysha, a\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\/4\/11.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=565267"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565267\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565268"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565267"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565267"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}