Shipping Companies Counting Cost of Suez Chaos

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    Greensea Systems
    Keymaster
    Reuters

    By Jonathan Saul and Carolyn Cohn

    LONDON, March 29 (Reuters) – The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them, industry sources say.

    Up to 400 ships, which include oil tankers and vessels carrying goods to consumers that had been stuck, are counting the cost after traffic through Egypt’s Suez Canal was halted for six days.

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