Who is liable for the Suez Canal accident?
https://www.egyptindependent.com/egypt-considers-compensating-stalled-ships-in-suez-canal/
Egypt.
The ship’s owner, Shoei Kisen Kaisha, is liable too.
They have $3 billion in liability insurance through 13 Protection and Indemnity Clubs.
Insurance companies only cover a limited amount as specified in their policies.
But the deepest pockets belong to Egypt.
Financed by:
World Bank
International Monetary Fund (IMF)
https://www.imf.org/external/pubs/ft/fandd/2001/09/boughton.htm
Miss Kristalina Georgieva, Director of Risk Management, will be processing the IMF's claims.
She was promoted Friday.
Why is Egypt liable for damages exceeding insurance claims?
They stem from Thursday’s Suez Canal grounding incident.
Egypt:
owns the 120-mile Suez Canal
hires the Captains that navigate 50 vessels a day to pass safely through it, single file
Who were the Captains on the Ever Given when it got stuck?
Hisham Fawzy
Medhat El-Naggar
According to Admiral Osama Rabie, Chairman of the Suez Canal Authority (SCA), they are Egypt’s best.
https://www.suezcanal.gov.eg/English/MediaCenter/News/Pages/Navigation_new25-03-2021.aspx
Shipping vessels are required to have at least two Captains.
Suez Canal Pilots, Capt. Hisham Fawzy (left), Capt. Medhat El-Naggar (middle), and Algeciras Shipmaster, Capt. Jon Kiun.
On May 25th, the world's largest container ship, HMM Algeciras, passed safely through the Suez Canal to Europe.
Navigated by Captains Hisham Fawzy and Medhat El-Naggar.
http://www.eworldship.com/html/2020/OperatingShip_0527/160106.html
Where does China fit in?
It is in their interest to buy the Suez Canal.
It is China’s primary shipping route to its largest market, Europe.
Updated April 3rd
The coverage is $3 billion.