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Boskalis reached settlement over salvage costs
Boskalis has reached a settlement with the Japanese owner of the 'Ever Given' regarding a dispute over salvage costs. The conflict stemmed from the container ship running aground in the Suez Canal in March 2021, an incident that blocked the canal for days and caused major disruptions to global trade. Both parties have now reached an amicable agreement; financial details were not disclosed. The outcome resolved a significant legal aftermath of the incident and was expected to prevent further protracted litigation concerning the salvage claim.
Costs of canal blockade were enormous
The costs of the Suez Canal blockade by the 'Ever Given' in 2021 were enormous, a study shows. A European research team, in collaboration with the University of Gothenburg, has analyzed that the accidentl cost A.P. Møller - Maersk 89 million dollars, highlighting the vulnerability of the global supply chains and the enormous costs that can arise as a result of a disruption. Of Maersk’s total losses of $89 million, the cost of maintaining container warehouses was the largest expense at $76 million. Ship-related and environmental costs accounted for the rest. The result of the study emphasizes the need for robust contingency plans and alternative transport routes to minimize future risks, according to Kevin Cullinane, professor at the School of Business, Economics and Law at the University of Gothenburg. The study’s findings are based on data from the Maersk’s fleet, which accounts for one third of all commercial vessels affected by the blockade of the canal. In total, 69 of the company’s ships were affected, either through rerouting via the Cape of Good Hope or due to delays in the Suez Canal. The longer voyages for the many ships and the waiting time increased Maersk’s fleet’s carbon emissions by 44,574 tonnes. In addition, the Suez Canal Authority lost $5.9 million due to lost traffic. “The research shows not only the significant economic risks in international logistics, but also the major impact that disruptions have on daily operations,” commented Hercules Haralambides, professor at Dalian Maritime University, Erasmus University Rotterdam and the Sorbonne Centre for Economics.
Maersk settled lawsuit against companies behind container ship for blocking Suez Canal
A.P. Moller-Maersk A/S has settled a Danish lawsuit against the companies behind the 'Ever Given' for blocking the Suez canal in 2021, forcing shipping lines to delay or divert vessels and causing global disruption of supply lines. The Copenhagen based company has withdrawn the case in Denmark, it was announced on Nov 29, 2023. The Danish shipping company declined to disclose the details of the settlement and wouldn’t identity the companies or individuals it had sued. The ship was operated by Evergreen Marine Corp. Maersk had sought 300 million kroner ($44 million) at Denmark’s Maritime and Commercial Court over losses caused by the event, online media ShippingWatch reported earlier this year. Evergreen denied it has liability for any damages to Maersk.
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