Evergiven Suez Grounding: Big Vessels, Big Troubles

Grounding of MV EVERGIVEN, which caused a six-day cease of sailing through Suez canal, revealed a number of issues: Size of the vessel contributed to the occurrence of the accident, since through its enormous compact mass, composed by its hull and the 20.000 TEUs carried, was drifted by the wind and grounded. Beyond technical and financial issues, legal ones arose as well, despite the fact that Suez closed only for 6 days thanks to the tides which facilitated floating of EVERGIVEN.

Suez canal Authority assesses its own damages to one billion USD! Claims of cargo which will not be delivered timely, both EVEGIVEN’s and other stuck vessels’ cargo, and claims for damages to sensitive cargo due to the delay, are expected to be pursued. The six-day closure of Suez canal, will result to much longer delays due to the cancelling of the ports and vessels’ call schedule; delays are expected to influence even …Wien port on the Danube river! Of course, claims amount is expected have considerable impact in the insurance market.

Contributing Advisors