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Old 18th Apr 2021, 04:33
  #405 (permalink)  
tdracer
 
Join Date: Jul 2013
Location: Everett, WA
Age: 66
Posts: 3,224
Originally Posted by RatherBeFlying View Post
The Egyptians would do well to consider that whatever they receive in compensation/ransom will inevitably be taken into insurance rates. Once the insurance rates for ships of the Ever Given class transiting Suez exceed the cost of going around the Cape, the Egyptians will have shot themselves in the wallet
Exactly!
One more $Billion dollar ransom, and shippers may well decide that the trip around Africa isn't all that far out of the way after all. The goose that laid the gold egg comes to mind - kill it and there won't be another....
The Suez Canal was out of action for a long time after the '67 war - and the world managed just fine. Egypt would be wise to remember that...
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