The statement came after the Suez Canal Authority said it wasn t responsible for the incident.
The ship is still stuck in Egypt until its owners reach an agreement with the Authority.
CAIRO (Reuters) - The speed of a container ship that blocked the Suez Canal in March was controlled by the Egyptian waterway s operator before it ran aground, the vessel s insurer said on Thursday.
The statement from UK Club came after the head of the Suez Canal Authority said the ship was sailing too fast when it became grounded, but that the canal bore no responsibility.
The Ever Given, one of the world s largest container ships, is still being held in the canal while both sides continue compensation talks. It became jammed in high winds on March 23, halting traffic in both directions for several days and disrupting global trade.
The Ever Given container ship grounded itself in the Suez Canal for nearly a week in March.Egyptian authorities are holding the ship in local waterways until
St. Augustine Race Week
April 17-24: St. Augustine Race Week takes place from Saturday, April 17 through Saturday, April 24 with a variety of adult and children’s themed races and activities. The sixth annual event is headquartered at the historic St. Augustine Yacht Club, 442 Ocean Vista Ave. in St. Augustine. “The ‘Big Boats’ will race off the coast of St. Augustine in the Atlantic Ocean and inshore racers will sail in the Tolomato River, just north of the Vilano Bridge,” said Rose Ann Points, co-owner of St. Augustine Sailing, the event sponsor. “We’ll have great fun cheering on the youth sailors in the Matanzas Bay between the Castillo de San Marcos National Monument, the oldest masonry fort in the continental United States, and the renowned Bridge of Lions that spans the Intracoastal Waterway in St. Augustine,” she said. For information about schedules, activities, rules and fees to register, go to www.staugustineraceweek.com. The public is invited to att
»
2 experts explain why the company whose ship blocked the Suez Canal has seen its stock surge 28% since the incident started
2 experts explain why the company whose ship blocked the Suez Canal has seen its stock surge 28% since the incident started
Emily GraffeoApr 13, 2021, 22:00 IST
Suez Canal Authority
Ever Given ship got stuck in the
Suez Canal.
We spoke with two analysts who said its not unusual for freight tanker stocks to see bouts of volatility.
Freight tanker stocks are heavily tied to shipping rates, which have skyrocketed this year.
However, the canal blockage exacerbated supply and demand conditions and pushed rates higher.