4 ms·
Now every ship has a 1B potential liability when transiting. What a great way for Egypt to turn what was a near-disaster into a full disaster. They didn't lose
by oivaksef 5y ago
Now every ship has a 1B potential liability when transiting.
What a great way for Egypt to turn what was a near-disaster into a full disaster. They didn't lose out that much, everyone is playing happy families. Then they do this. Fail on so many levels. Well done Egypt in screwing over your golden goose.
- teruakohatu 5y agoDo we know what % of ships decided to go the long way around Africa? It would seem most just waited. Egypt makes $5.6 billion per year, so assuming no ships waited, they would have lost $92 million over six days plus the money spent floating the ship.
- hugh-avherald 5y agoI don't think this will change behaviour. It's not entirely the same, but $1 bn is the minimum 3rd party insurance liability requirement for international airlines at Sydney Airport.
- paxys 5y agoIt's not like those ships can use a competing canal.
- zaphirplane 5y agoThey can go around as many have said