The incident with the Ever Given container ship in the Suez Canal allowed Russia and China to promote their trade routes more successfully as well as to challenge the American globalization model, French journalist and writer Francois Lenglet, who specializes in economic issues, stated on Wednesday. “If the incident’s economic consequences are insignificant, then there …

Russia and China benefit from Suez Canal crisis, French expert says Read More »

The giant container ship that blocked the Suez Canal for six days was freed Monday, but another bottleneck in the supply chain remains, this one in Southern California. On Monday morning, 24 container ships—with a combined maximum carrying capacity nearly 10 times that of the newly freed ship—were anchored off the coast waiting for space …

America’s Imports Are Stuck on Ships Floating Just Off Los Angeles Read More »

A huge container ship that has been wedged in the Suez Canal since Tuesday has finally been freed from the shoreline. Peter Berdowski, chief executive of Dutch salvage company Boskalis, said the Ever Given had been refloated at 15:05 (13:05 GMT) on Monday, “thereby making free passage through the Suez Canal possible again”. However, it …

The cost of the Suez Canal blockage Read More »

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Marubeni and Klaveness extend the scope of joint venture Read More »

S&P Global Platts (“Platts”), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, has launched new daily Time Charter Equivalent (TCE) assessments on four key Aframax routes originating in Europe, effective April 1, 2021. Peter Norfolk, Editorial Director, Global Shipping & Freight, S&P Global Platts said: “The European …

S&P Global Platts Launches Tanker TCE Assessments for Europe: First Regional high and Low Sulfur Prices Reflecting Vessel Revenues on Key Routes Read More »

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 this week into how the giant container ship Ever Given ran aground in the canal, shutting down shipping in …

Suez blockage may lead to large reinsurance claims, broker Willis Re says Read More »