Taiwanese container shipping line Evergreen Marine Corp (長榮海運) has declared force majeure on a shipment to the Israeli port of Ashdod, with its Ever Cozy vessel diverted to Haifa due to safety concerns, a customer note said.
This is one of the first force majeures declared since Hamas launched attacks on Israel on Oct. 7 and amid preparations by Israel’s military to launch ground operations into Gaza in retaliation.
The Ever Cozy on Tuesday was sailing toward Haifa, data from ship tracking and maritime analytics provider MarineTraffic showed.
Photo: AFP
While the smaller Ashkelon port, which is the closest terminal to Gaza, has shut, Ashdod has remained opened with restrictions on the transport of hazardous goods, including flammable and explosive materials.
In a note to customers dated Monday, Evergreen said that it was informed about the “persisting unsafe situation” at Ashdod port since Oct. 7.
“As the situation is beyond Evergreen Line’s control, we are formally declaring force majeure,” the advisory said. “All cargoes which were originally destined for Ashdod, Israel, will be discharged at Port of Haifa, Israel. Thereafter, the subject contract of carriage is treated as terminated and all carrier’s responsibilities shall cease.”
In the latest update, Ashdod port said on its Web site that employees continued to work “at a time when the port is operating with constant siren alerts for incoming missiles.”
On Tuesday, three ships, including an oil tanker, remained at anchor waiting to enter Ashdod, while 16 ships were anchored near Haifa, the MarineTraffic data showed.
Ashdod and Haifa are vital goods gateways for Israel.
War risk insurance rates have soared more than 10-fold in the past few days to Israeli ports with growing concerns over an escalation in hostilities.
On Tuesday, US President Donald Trump weighed in on a pressing national issue: The rebranding of a restaurant chain. Last week, Cracker Barrel, a Tennessee company whose nationwide locations lean heavily on a cozy, old-timey aesthetic — “rocking chairs on the porch, a warm fire in the hearth, peg games on the table” — announced it was updating its logo. Uncle Herschel, the man who once appeared next to the letters with a barrel, was gone. It sparked ire on the right, with Donald Trump Jr leading a charge against the rebranding: “WTF is wrong with Cracker Barrel?!” Later, Trump Sr weighed
HEADWINDS: Upfront investment is unavoidable in the merger, but cost savings would materialize over time, TS Financial Holding Co president Welch Lin said TS Financial Holding Co (台新新光金控) said it would take about two years before the benefits of its merger with Shin Kong Financial Holding Co (新光金控) become evident, as the group prioritizes the consolidation of its major subsidiaries. “The group’s priority is to complete the consolidation of different subsidiaries,” Welch Lin (林維俊), president of the nation’s fourth-largest financial conglomerate by assets, told reporters during its first earnings briefing since the merger took effect on July 24. The asset management units are scheduled to merge in November, followed by life insurance in January next year and securities operations in April, Lin said. Banking integration,
LOOPHOLES: The move is to end a break that was aiding foreign producers without any similar benefit for US manufacturers, the US Department of Commerce said US President Donald Trump’s administration would make it harder for Samsung Electronics Co and SK Hynix Inc to ship critical equipment to their chipmaking operations in China, dealing a potential blow to the companies’ production in the world’s largest semiconductor market. The US Department of Commerce in a notice published on Friday said that it was revoking waivers for Samsung and SK Hynix to use US technologies in their Chinese operations. The companies had been operating in China under regulations that allow them to import chipmaking equipment without applying for a new license each time. The move would revise what is known
Artificial intelligence (AI) chip designer Cambricon Technologies Corp (寒武紀科技) plunged almost 9 percent after warning investors about a doubling in its share price over just a month, a record gain that helped fuel a US$1 trillion Chinese market rally. Cambricon triggered the selloff with a Thursday filing in which it dispelled talk about nonexistent products in the pipeline, reminded investors it labors under US sanctions, and stressed the difficulties of ascending the technology ladder. The Shanghai-listed company’s stock dived by the most since April in early yesterday trading, while the market stood largely unchanged. The litany of warnings underscores growing scrutiny of