The givens & the non-givens of the Ever Given

On vessel, crew, owner, operator, charterer, cargo shipper, canal authority or caught in “traffic jam;” what will be the legal matters at stake when a ship is grounded in a canal that is responsible for:

• about 12% of global trade
• transporting around 1 million barrels of oil
• & roughly 8% of liquefied natural gas
• has revenues of $14m-$15m p/d of blockage
• contributes to 2% of Egypt's GDP

Givens:
• “Ever Given” grounded – blocked Suez Canal for 6 days & now is arrested for $916 000 000

Non-Given/s :

• Is there a legal basis for a reputational damage of $300m?
• Why is the amount this high if it does not include salvage services?
• Who pays what when it comes to the 400 vessels trapped in the traffic jam? Charterparty delays, perishable cargo etc.

• What is the insurers & re-insurers role in covering expenses?
• Can 25 crew members be held captive in this respect?

Join us as we try to assemble the puzzle!