Japan shipowner asks cargo owners to share Suez damage cost | #insurance | #seniors | #elderly
TOKYO (AP) — The Japanese owner of a massive container ship that blocked the Suez Canal for nearly a week, halting billions of dollars in maritime commerce, is asking owners of the freight it is carrying to share the cost of the damages demanded by Egyptian authorities.
Shoei Kisen Kaisha Ltd. said Friday that it has asked freight owners to share the damages in a deal known as a general average declaration. The damage sharing scheme is often used in maritime accidents covered by insurance. The company said it has notified a number of the owners of the approximately 18,000 containers on the ship to assume part of the damages demand, estimated at about $916 million.
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