5 ms·

I don't know how much container ships cost or how they're insured. I'm sure it's exquisitely leveraged and very complicated. ...But, is it plausible that the sh

I don't know how much container ships cost or how they're insured. I'm sure it's exquisitely leveraged and very complicated. ...But, is it plausible that the ship's operator just calls it a total loss and lets Egypt deal with a floating clunker in its waters, or would Egypt simply turn around and sell it?

Someone 6y ago
If you order them in bulk, they’re between $115 million and $130 million each (https://gcaptain.com/ever-givens-operator-orders-20-new-ultra-large-ships-at-samsung-heavy-industries/ https://gcaptain.com/ever-givens-operator-orders-20-new-ultr...). Its cargo probably is worth a lot more, though ($130 million divided by 20,000 containers is $6,500 per container) Egypt first would need a court to judge that its claim is valid, and then probably would sell it. And if that doesn’t bring in the necessary amount, Egypt still would have a claim, and likely would seize any other ship from the same order that passes through the canal (possibly even ships that aren’t in Egypt)
- legerdemain 6y ago
  Is the Ever Given seaworthy after its extraction?
  - redis_mlc 6y ago
    From what I've read: 1) It was towed up the canal a short way to a "lake" area for inspection. It was leaking immediately after the grounding, and probably does have minor hull issues, but no update since it was freed. (Steel ships rely on the forces of floating - having water push up and inward to maintain the hull shape. They're not designed to be grounded or to be allowed to sag in the middle.) 2) It was never out of Egypt's custody.
- redis_mlc 6y ago
  > Its cargo probably is worth a lot more, though ($130 million divided by 20,000 containers is $6,500 per container) Its cargo probably is worth a lot more [than the ship] though ($130 million divided by 20,000 containers is [only] $6,500 per container)

5 ms·

I don't know how much container ships cost or how they're insured. I'm sure it's exquisitely leveraged and very complicated. ...But, is it plausible that the sh

by legerdemain 6y ago

Someone 6y ago
If you order them in bulk, they’re between $115 million and $130 million each (https://gcaptain.com/ever-givens-operator-orders-20-new-ultra-large-ships-at-samsung-heavy-industries/ https://gcaptain.com/ever-givens-operator-orders-20-new-ultr...). Its cargo probably is worth a lot more, though ($130 million divided by 20,000 containers is $6,500 per container) Egypt first would need a court to judge that its claim is valid, and then probably would sell it. And if that doesn’t bring in the necessary amount, Egypt still would have a claim, and likely would seize any other ship from the same order that passes through the canal (possibly even ships that aren’t in Egypt)
- legerdemain 6y ago
  Is the Ever Given seaworthy after its extraction?
  - redis_mlc 6y ago
    From what I've read: 1) It was towed up the canal a short way to a "lake" area for inspection. It was leaking immediately after the grounding, and probably does have minor hull issues, but no update since it was freed. (Steel ships rely on the forces of floating - having water push up and inward to maintain the hull shape. They're not designed to be grounded or to be allowed to sag in the middle.) 2) It was never out of Egypt's custody.
- redis_mlc 6y ago
  > Its cargo probably is worth a lot more, though ($130 million divided by 20,000 containers is $6,500 per container) Its cargo probably is worth a lot more [than the ship] though ($130 million divided by 20,000 containers is [only] $6,500 per container)