The maritime industry is an industry where every vessel has a duty to help one another in distress (a ship is said to be in distress when that vessel needs to be rescued) in maritime terms It is called “salvage”

Although this has a clause attached, the vessel is exempted from this duty or “salvage” when it will endanger itself in the operation of the Savage, in other words another vessel would not save a vessel in distress if the operation would harm or affect it or put itself in danger.

Currently, a container vessel by name MV EVER GREEN, almost the length of four football pitches is lying across the southern end of the Suez canal preventing other ships from getting through one of the busiest water ways in the world,
The ship is grounded on both ends and plans are made to remove the sand and silt using suction to free the vessel also other plans are being made to reduce the weight by removing cargos and fuel from the vessel which could be strenuous because she has over 15,000 containers loaded also the ship could lag, sag or bend into two because of the uneven weight distribution while offloading its cargoes.

What is the Suez canal and how does this concern you?

The Suez canal is an artificial waterway located in Egypt (North Africa) linking Africa to Europe and Asia.

Any vessel that wants to go to Europe or Asia faster has to go through the Suez canal or either go through the cape of good hope, round down to South Africa and up again costing the vessel 7 thousand kilometres which is more than two months journey by sea.

This blockade has kept over 200 ships at both ends of the canner hoping for the vessel to be removed (patience is indeed a virtue here because few days is better than a month)

Right now the impact of the Suez canal blockade will not only affect the ocean freight industry, it will have an impact on the supply chain of goods from availability of raw materials to manufacturers and finally consumers of the end product.

Let’s paint a scenario

Canada is expecting a tanker to bring her unrefined crude oil and that tanker is being delayed at the Suez canal if that tanker decides to go through the cape of good hope, staying up to two months of more expenses like

✓buying more fuel (bunker)

✓feeding crew members

✓paying for salaries of Crew members and also

✓maintaining the vessel, electricity, appliances etc

Canadians must run on short supply of unrefined crude oil because she’s expecting the crude oil at a certain period (add two more months)

Also Egypt is affected because the dues collected from the vessels who go across the canal might have an effect on their economy and all the nations that benefit from the dues paid, because other vessels might not pay the dues and choose to go through the cape of Good Hope.

Now more than ever the maritime industry should take the marine insurance more serious. I can’t even imagine the risk and losses vessels without insurance are experiencing right now because it means delay in cargo delivery and also going through the perils of the sea (piracy, tempest, pilferage, Act of God)

Hope you found value?

Like Our Story ? Donate to Support Us, Click Here

You want to share a story with us? Do you want to advertise with us? Do you need publicity/live coverage for product, service, or event? Contact us on WhatsApp +16477721660 or email Adebaconnector@gmail.com