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Grounded ship at Suez Canal: Still stuck?

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  1. #41

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    Saw this in a newsletter...

    Why the big dumb ship in the Suez is Bill Clinton’s fault: I’ve written a few pieces now on the stupidity of making giant ships that can’t fit into the Suez Canal. The reason we have this problem is because the industry is highly consolidated. As usual, there’s a law behind the changes, in this case it’s the Ocean Shipping Reform Act of 1998, which legalized secret rebates by shippers and spurred massive consolidation of the industry.

    Before 1998, ocean carriers had to post their prices and terms publicly, so small shippers could ask for the same prices as the big guys. Once carriers and shippers could negotiate for secret prices, big shippers could demand secret rebates unavailable to their smaller counterparts. Corporate size and power, not the ability to ship effectively or reliably, became the dominant competitive advantage. Carriers merged in a wave of deals, and then further combined into three global alliances.
    HK_Katherine and jgl like this.

  2. #42

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    Litigation could be complex, since the vessel is owned by a Japanese firm, operated by a Taiwanese shipper, and flagged in Panama.
    Like I said, this is every admiralty/conflict of laws/maritime case in law school. Not gonna get resolved in this decade, heaven help you if you have any cargo on this ship, write it off as a total loss or hopefully insurance pays off. Heaven alone knows what games the insurance companies will now be playing...only the lawyers going to get any money out of this one.

  3. #43

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    Didn't the egyptians pilot the ship? Shouldn't they now sue themselves?


  4. #44

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    Quote Originally Posted by mrgoodkat:
    Didn't the egyptians pilot the ship? Shouldn't they now sue themselves?
    A rumor going around in shipping circles is that there was an issue related to Marlboro ciggies ...

    Don't worry, they'll find a way to blame someone else.

  5. #45

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    Here's a but more related to the Marlboro reference..

    https://eu-asia.essca.fr/the-marlbor...-of-corruption

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