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FREED: Giant tanker that blocked Suez Canal now released

Published

4 years ago

July 8, 2021

Brittany Coles

Ever Given has finally been given the green light to set sail from the Suez canal

The giant container ship that infamously blocked the Suez Canal for six days, cost the world economy billions.

Now its finally departed after its owners reached a massive settlement deal with the Suez Canal Authority.

Terms of the deal were not disclosed but Egypt had demanded $550 million dollars.

The Suez Canal provides the shortest sea link between Asia and Europe.

But the vital waterway was blocked when the 400m-long ship became wedged.

The container ship was re-floated following a six-day salvage operation.

A settlement has been reached between the owners and insures of the Ever Given container ship that blocked the Suez Canal in March

A formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7.

The Suez Canal Authority has held the giant ship and its crew in a lake between two stretches of the waterway since it was dislodged on March 29, amid a dispute over demand for compensation by the SCA.

The Japanese-owned Ever Given had become stuck in high winds and remained wedged across the canal for six days, disrupting global trade.

“Preparations for the release of the vessel will be made and an event marking the agreement will be held at the Authority’s headquarters in Ismailia in due course,” Faz Peermohamed of Stann Marine, which represents owner Shoei Kisen and its insurers, said in a statement.

The SCA said the settlement contract would be signed on Wednesday at a ceremony, and that participants would be able to watch the ship leaving.

Stann Marine gave no details of the settlement.

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Boeing 787 crashes in India, 242 on board

Boeing 787 Dreamliner crashes in India en route to London, injuring passengers amidst safety and production challenges for Boeing.

Published

3 hours ago

June 12, 2025

Ahron Young

Boeing 787 Dreamliner crashes in India en route to London, injuring passengers amidst safety and production challenges for Boeing.

In Short:
An Air India Boeing 787 Dreamliner crashed in Ahmedabad on June 12, 2025, while flying to London, injuring many passengers. This incident poses significant issues for Boeing, which is already dealing with safety concerns, and has prompted condolences from both Indian and U.K. leaders.

A Boeing 787 Dreamliner, operated by Air India, crashed in Ahmedabad, India, on June 12, 2025, while en route to London’s Gatwick Airport.

The aircraft departed at 1:38 p.m. local time with 230 passengers, including 169 Indians, 53 British, one Canadian, and seven Portuguese nationals.

Air India confirmed that injured passengers are being taken to nearby hospitals.

The 787 Dreamliner had operated for 14 years without a fatal incident before this crash.

Boeing response

Boeing expressed awareness of the situation and is gathering more information, although shares dropped drastically following the news.

This incident presents a significant challenge for Boeing, which has faced safety and production issues recently.

Local media reported smoke emanating from the crash site, and emergency responders were seen transporting individuals on stretchers.

The plane lost location data at 625 feet altitude and descending at 475 feet per minute before the crash.

The incident occurred in a residential area, prompting condolences from Prime Minister Narendra Modi, who stated his government will assist local authorities.

Air India, recently acquired by Tata Sons, has been navigating difficulties as the former state-run carrier.

The jet crash is part of a troubling year for aviation, following other serious incidents, including a 2018-2019 Boeing 737 MAX crash that resulted in over 300 fatalities.

U.K. Prime Minister Keir Starmer expressed concern for affected families as the situation unfolds.

News

Pentagon reviews AUKUS deal to align with Trump’s agenda

Pentagon reassesses AUKUS deal to align with Trump’s America First policy amid concerns over alliance readiness and U.S. delivery capacity.

Published

16 hours ago

June 12, 2025

Ahron Young

Pentagon reassesses AUKUS deal to align with Trump’s America First policy amid concerns over alliance readiness and U.S. delivery capacity.

Pentagon Reviews AUKUS Deal to Align With Trump’s Agenda.
The Pentagon is re-evaluating the landmark AUKUS security pact between Australia, the U.S., and the U.K., aiming to ensure it fits with Donald Trump’s America First policy.

With Australia set to receive nuclear submarines under the deal, the review raises questions about alliance readiness and shared responsibility. But concerns remain about the U.S.’s capacity to deliver its end of the bargain.

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Markets react as inflation cools and the Fed watches on

New US-China trade pact raises questions; cooler inflation hints at possible Fed rate cuts, while markets react to rising crude oil and a strong ASX outlook.

Published

16 hours ago

June 12, 2025

Ahron Young

New US-China trade pact raises questions; cooler inflation hints at possible Fed rate cuts, while markets react to rising crude oil and a strong ASX outlook.

A new trade pact between the U.S. and China is raising eyebrows, but experts question whether it’s a game-changer or just more of the same.

Meanwhile, inflation comes in cooler than expected again, sending signals that the Fed may cut rates twice this year. All eyes are on markets, with crude oil surging and the ASX looking strong ahead of the open.

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