Losing 100 million a day! Because “long grant” ran aground, Suez Canal Authority may claim compensation from Japanese shipowner

The Suez Canal has been running aground for nearly a week, and shipping has resumed. According to Japanese media reports, the impact of the grounding is so great that the Suez Canal Authority alone is losing more than 1.5 billion yen (about 100 million yuan) in tolls each day, and the most likely party to be held liable is the ship’s owner, the Japanese company Masei Steamboat.

According to the Sankei Shimbun of Japan, insurance industry sources said that the Suez Canal Authority is losing more than 1.5 billion yen in tolls every day, and the Canal Authority is likely to Sue the Zhenei Steamboat in Egypt, seeking compensation for related losses. The ship also caused direct damage to the canal’s banks, which Zhenro may also have to pay for.

General ship insurance is divided into two types: hull insurance and cargo and fuel leakage insurance, the report said. This accident may be applicable to the second situation, Zhenro can compensate through insurance. Zhenro has previously said that the bow part of the ship may have been damaged in the grounding accident, and will apply for insurance compensation after the specific circumstances are confirmed.

In addition, more than 400 cargo ships have been grounded, and the insurance companies of each ship may be responsible for the damage. Insurance industry sources said that due to the cost and time issues, few people would directly apply for compensation from the stranded ship’s owner in such cases. “It happens from time to time that cargo ship collisions make the port unusable. We all know that we all have bad days, so it is no good to compete with each other,” he said.