Egypt wants compensation in excess of 1 billion euros for stranding ship in Suez – World

Egypt wants compensation in excess of 1 billion euros for stranding ship in Suez – World
Egypt wants compensation in excess of 1 billion euros for stranding ship in Suez – World
Lieutenant-General Ossama Rabie, head of the Canal’s authority, warned that the vessel and its cargo would not be allowed to leave Egypt if the issue of compensation goes to court.

Speaking by phone to a pro-government talk show on Wednesday, the official explained that the amount takes into account the rescue operation, stalled traffic costs and lost transit fees during the week that “Ever Given” blocked the Suez Canal.
“It is a country’s right,” Rabie said, without specifying who would be responsible for paying the compensation, adding that last year, the Canal authorities and the ship’s owners had a good relationship. The cargo ship is currently in one of the channel’s lakes, where the vessel’s authorities and managers are conducting an investigation.Today, the ship’s technical managers, Bernard Schulte Shipmanagement, said in an email to the Associated Press that the crew is cooperating with the authorities in investigating what caused the ship to run aground.

Rabie further clarified that if the investigation went well and there was an agreement on the amount of compensation, the vessel could move on without problems.

However, if the issue of damages involved litigation, “Ever Given” and its cargo of about $ 3.5 billion (about three billion euros) would not be allowed to leave Egypt.The dispute can be complex, since the vessel is owned by a Japanese company, operated by a Taiwanese company and with a Panama flag.

The Suez Canal congestion is still not resolved almost three days after the ship started sailing again and today almost 250 vessels were waiting to cross the track.

According to the logistical services company Leth Agencies, 249 vessels expected to be able to cross the important sea route today, through which about 10% of the world maritime trade and 25% of containers pass.According to the Suez Canal Authority, Egypt lost between 12 million and 15 million dollars (between 10 million and 12.7 million euros) for each day that the passage was closed, which shortens the sea voyage between the Asia and Europe.

Strong winds and a sandstorm were initially pointed out as what led “Ever Given” to cross the channel, although Rabie later raised the possibility of “human or technical errors”.

The stripping operations required more than ten tugs, as well as dredges to excavate the channel.

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