The world watched on as billions of pounds worth of goods were held up in the Suez Canal before cargo ship Ever Given was released last week. But for those with cargo on board, it doesn’t end there. The general average principle of maritime law is being applied which states that the owner of cargo on board a ship should contribute to the cost of rescuing the vessel during a major casualty event such as this, according to news site gCaptain.
This means a retailer shipping goods on Ever Given can’t collect merchandise until they pay for a percentage of the product value, which may or may not be covered by insurance. Companies should have been contacted directly but this is worth taking pause for thought on the wider implications for the global logistics sector.