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Last Updated: Suez Canal Authorities (SCA) At Fault Over Stranding Ever Given, Says Japanese Owner Japanese company Shohei Kisen argued that Panamanian flagged Ever Given veered off its course because SCA insisted that ship was “good to enter in bad weather. IMAGE: AP World s largest container ship, MV Ever Given that had stranded sideways blocking Egypt’s key maritime route Suez Canal was caused due to the negligence of the Suez Canal authorities, an attorney disputing the compensation claims said Saturday. The Suez Canal Authority had earlier last month slapped a $916.5 million claim against Japanese vessel owner Shoei Kisen after the vessel ran aground and halted the world’s supply of goods cargoes, and oil tankers causing a massive backlog and trade loss worth billions. ....
The overall trade deficit expanded by 87% in February to $71.1 billion (SPY -0.3%). Dollar dumps amid COIN carnage, Archegos Angst, & Ignited Inflation. The Market in Perspective Here are the headlines moving the markets. Lithium Prices Could Triple As EV Production Soars The global market share of electric vehicles is set to rise so quickly that battery manufacturers will not be able to meet production requirements, a Rystad Energy analysis shows. The reason is that the mining capacity of lithium a key ingredient in EV-purposed batteries will fall short of demand unless investments in new mines accelerate. Under the current pipeline, capacity deficits could triple lithium prices towards the end of this decade. While todays lithium mining capacity can comfortably satisfy demand from the electric ....
Egypt seized a giant container vessel that closed off the Suez Canal last month as it sought compensation of over $900 million for the blockage. A court in the city of Ismailia granted the request regarding the Ever Given vessel at the behest of the Suez Canal Authority, state-run Ahram Gate reported on its website. It did not say who the SCA wants compensation from. The ship’s insurer for third-party losses, the U.K. P&I Club, said in a statement that the owner received a claim for $916 million, the size of which is “largely unsupported.” It said it was disappointed that the vessel was arrested on Tuesday. ....
Cairo: Egypt seized a giant container vessel that closed off the Suez Canal last month as it sought compensation of over $900 million for the blockage. A court in the city of Ismailia granted the request regarding the Ever Given vessel at the behest of the Suez Canal Authority, state-run Ahram Gate reported on its website. It did not say who the SCA wants compensation from. The ship s insurer for third-party losses, the UK P&I Club, said in a statement that it received a claim for $916 million, the size of which is largely unsupported. It said it was disappointed that the vessel was arrested on Tuesday. ....
Egypt seizes Suez ship Ever Given pending $900 million payment japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.