- The Suez Canal Authority has demanded $916 million in compensation, according to the UK Club, an insurer of the Ever Given.
- That amount takes into account the salvage operation, costs of stalled canal traffic and lost transit fees for the week the Ever Given blocked the canal.
- The Economic Court of Ismailia on Tuesday upheld the seizure decision. There was no immediate comment from the vessel’s owner.
A recent AP news sources by Samy Magdy says that Egypt court upholds seizure of ship that blocked Suez Canal.
What did the court say?
An Egyptian court Tuesday rejected an appeal by the owner of a massive container ship of the court-ordered seizure of the vessel over a financial dispute.
Egyptian authorities have impounded the hulking Ever Given, which blocked the Suez Canal for nearly a week in March, halting billions of dollars in maritime commerce.
The Suez Canal Authority said the vessel would not be allowed to leave the country until a compensation amount is settled on with the vessel’s Japanese owner, Shoei Kisen Kaisha Ltd.
A court in the Suez Canal city of Ismailia ordered the seizure of the vessel earlier this month. The Ever Given’s owner filed an appeal on April 22 in hopes of overturning the decision.
Negotiations still going on
Negotiations between the Suez Canal Authority and the shipowner were still ongoing to settle the compensation claim, Shoei Kisen Kaisha Ltd. said last week.
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.
It refused to disclose further details of the negotiations, including the amount covered by insurance and how much it is asking freight owners to share.
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Source: AP
