Ever Given Ship Banned From Leaving Suez Canal Until Owners Pay Up To $1 Billion In Compensation
The giant Ever Given ship might have been freed from the Suez Canal in Egypt, but the drama is far from over.
Weeks after the ship first became lodged into the banks of the popular trade route, the Ever Given has been forbidden from leaving the Suez Canal until its owners agree to pay up to $1 billion in compensation.
There is still huge debate over who should be responsible for paying the costs of dislodging the huge vessel from the canal, where it was trapped for a full week.
Now, authorities in Egypt have said they will continue to hold the ship until its owners – Japanese companies Luster Maritime and Higaki Sangyo Kaisha – cough up the cash.
Lieutenant general Osama Rabie, head of the Suez Canal authority, said, as per the Wall Street Journal:
The vessel will remain here until investigations are complete and compensation is paid.
We hope for a speedy agreement. The minute they agree to compensation, the vessel will be allowed to move.
While Rabie didn’t go into the specifics of how much they would be requesting in compensation, he did say last week that Egypt would be demanding $1 billion to cover the costs of the operation to free the vessel, in addition to the loss of transit fees and other costs that mounted up as a result of the traffic jam that built up on both sides of the canal.
Around 800 people worked on the efforts to free the 200,000-tonne container ship from the canal, who will all need to be compensated for their work.
A crew made up of 25 Indian sailors are still stuck on the ship, where they have remained in the Egyptian canal for almost three weeks.
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CreditsWall Street Journal
Wall Street Journal