Posted on 04/13/2021 8:51:09 AM PDT by zeestephen
Maritime data company Lloyd's List said the blockage by the vessel, longer than four football fields, held up an estimated $9.6 billion-worth of cargo between Asia and Europe each day it was stuck.
(Excerpt) Read more at msn.com ...
The restaurant’s insurance policy would cover the damages and loss of business, perhaps. Then that insurer might go after the driver’s Insurance Company to try to recover some or all of what they had to pay out.
Meanwhile, Joe won’t seize anything, except perhaps the last pudding cup.
Not Guilty while being Not Guilty.
I'm not disputing that. In the past though, there weren't numbers in a ship's call sign. It was just four letters.
“I knew a captain made a living for awhile “freeing” seized vessels.”
Another Repo series for TV:)
I looked into something like that when I retired, except it was freeing pirate seized vessels. They used ex SAS and licensed mariners.
The vessel operator’s and owner’s insurance companies will pay up, the vessel will be released.
The Evergiven is privately owned separate entity from other Evergreen ships just to protect the rest from being financially libel.
I once worked for a tnaker company that had about 23 ships if I remember. Each ship was under individual corporate ownership.
That Israeli canal is looking better all the time, no?
An Egyptian pilot working for the Suez Canal “company”. How does that square?
Now they have the ship and the pilot.
As said, the Israeli canal is looking better all the time.
The law is so complex and so irrational at times being in business feels like an option of last resort. One of my primary goals during the time I owned a company was to make enough money to never have to do it again to face liability or work again. I made it.
Quick! Call your Farmers agent and see if they cover accidental grounding.
This is maritime law, not trip & fall. Completely different, international body of law and with its own specialized courts.
You can be sued for anything, but it doesn't mean they're/you're going to win.
OH wait! You can sue the restaurant for slipping and falling in their hallway.
Another link to information on the ship’s arrest and background on financial negotiations.
https://gcaptain.com/suez-canal-authority-holding-ever-given-amid-compensation-claim/
Seems that if an Egyptian pilot is required, that makes Egypt the liable party, unless the pilot’s orders weren’t followed by a negligent crew.
These are all good questions. But, I suspect the phrase ‘general average’ and a few other ‘perils clauses’ are going to become well known in the coming days.
Presuming Lloyds is the insurer - safe bet that Lloyds likely has exposure from multiple claimants in this case - the payout could be gigantic. I’ll super-oversimplify this, but in maritime insurance, when calamity hits, insurers have a battery of clauses to rely upon that help them distribute liability exposure past the vessel owner and operator to the shippers themselves (who of course are insured for this kind of eventuality).
It’s kind of like Oprah when she’s on stage screaming, “YOU GET A CAR, YOU GET A CAR, YOU GET A CAR,’ except in this instance, it’s the primary insurer screaming, ‘You get a claim liability, You get a claim liability, You get a claim liability.’
Pilots are hired for local knowledge. Except for the Panama Canal, the master is still in command.
If the pilot made an error, his license could be proceeded against.
He actually had a series for a while.....
I’m the owner he world for he claims was a pirate etc.....rather disdainfully ..a fellow southerner too I might add
I thought well thanks Max
I held my mud and didn’t rat on u
Water under the bridge.....or transom....lol
U know maritime ...not many here get it outside of black shoes
Max had balls.....not like mine ....but adequate....he was very bright and fun to travel with...I think he got his law degree at 55
Houma or Thibodeaux
Me....middle Mississippi .....Hinds county
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