P&I worries ease after Suez Canal settlement, but focus turns to X-Press Pearl claim

Concerns that protection and indemnity insurers might have to call on their reinsurers to settle a claim from the Suez Canal Authority (SCA) for the grounding of the Ever Given have eased.

The terms of the final settlement are private but are likely to fall somewhere between the $200m offered by the vessel’s owner Shoei Kisen Kaisha and the $550m demanded by the SCA.