General

The claim amount dropped by 30% and still can't agree, the "Long Gift" round may be auctioned!

A few days ago, Osama Rabie, chairman of the Suez Canal Authority, said in an interview with television that Egypt has proposed to reduce the amount of compensation claimed by the "Long Gift" ship owner by one third and reduce the compensation claim from 900 million US dollars to $600 million.

However, for the compensation amount of US$600 million, the North British P&I Association, the insurance company of the "Longci" ship, responded that the owner of the "Longci" ship has not yet obtained evidence to support the claim amount, and the reduced claim amount did not reflect the claim. Among the claims submitted by SCA to the court, the amount of the claim is still extremely large.

As the Suez Canal Authority’s claim against the Japanese ship Dong Masaei Steamboat is still disputed, the ship is still stranded in the Great Bitter Lake between the two sections of the canal, and others are trapped thereafter. 18,300 containers on board.

According to Reuters, quoting internal sources from the Suez Canal Authority, the Egyptian court is scheduled to hold a hearing on May 22 to hear the Suez Canal Authority's claims. The Egyptian investigation revealed that neither the Suez Canal Authority nor the pilot made any mistakes in the accident.

Prior to this, the court had formally approved and approved the arrest of the vessel, and recently a source revealed that if the owner refuses to pay compensation, the court may authorize the Suez Canal Administration to auction the long-given vessel.

The rabbi, chairman of the Suez Canal Authority, also mentioned similar consequences.

Ever since the ship ran aground and successfully floated, it has been detained in Egypt, and the long-term seizure has made the cargo owner exhausted, and overseas customers waiting to receive the goods are also "Wang Yang lamented"!

There is no news on how to handle the cargo on board. I hope that it will not be "debt auctioned" with the ship, otherwise the cargo owners will really cry and pass out!

The East Coast shipping fee exceeded 7,000 US dollars!

Since the epidemic in 2020, due to the outbreak of the dockers and the strengthening of ship berthing prevention and control policies, the US government’s epidemic subsidies have added to the increase in domestic consumption. Due to several major factors, the US West Coast ports have been stuck in a clogged quagmire. . During the worst period of congestion, more than 300 ships lined up outside the port.

For example, the port of Los Angeles and Long Beach, the busiest ports in the United States for trade with Asia, has not resolved the issue of ship jams since November last year. While some shipping rates have reached record highs, US imports have continued to rise. At present, the number of freighters waiting to enter the Port of Los Angeles and Long Beach is maintained at around 20 ships per day. There were 19 ships on May 10 and 22 ships a week ago.

According to the Port of Los Angeles, another 15 container ships will arrive in the next three days, 11 of which will join the queue. According to the Port of Los Angeles, the average number of days waiting for a berth is 6.6 days, which is more than one day shorter than in March. In April, 65% of arriving freighters must directly anchor in the open sea and line up.

Although the port congestion has eased, the bottleneck of land transportation after container ships arrives is still serious. The average number of days a container stays in the terminal area in April is 3.9 days, the same as in March. The waiting time for transshipment by rail was 7.5 days in April, which was less than the 11 days in March.

The ocean freight from Asia to the United States remained stable at close to historical high prices in the first quarter. According to the Drewry World Container Freight Index, freight rates are now starting to rise again, especially for the East Coast freight rate, where the freight rate per 40-foot TEU exceeded US$7,000. .

According to the latest week of Far East-US East freight rates announced on May 7, the freight rate per 40-foot TEU soared to US$7,036, an increase of US$617, or 9.6%.

The industry was in an uproar when the US$5,000 was rushed last year, and this year the freight rate has risen even more than US$7,000; the 20-foot TEU on the Far East-Europe line has also risen to US$4,678.

On the east coast of North America, shipping from Southeast Asia is currently $450/FEU cheaper than from North Asia. In April, the freight from Southeast Asia to the east coast of North America was higher than the freight from North Asia to the east coast of North America, about $100-$150/FEU. In March, the spread reached a peak of $250/FEU.