Egypt Wants $1 Billion In Compensation For Suez Blockage

Three Days Necessary for Traffic in Suez Canal to Return to Normal, Egyptian President Says

Authorities began working Tuesday to determine how the Ever Given container ship became stuck in the Suez Canal, a day after the large vessel was freed from its frozen position near the shoreline and traffic resumed through one of the world's most vital commercial waterways. Evergreen Marine Corporation, the ship's charterer on Thursday said that it was not responsible for delays of cargo it was transporting and dismissed the possibility of it paying compensation.

A spokesperson for Shoei Kisen Kasa, the Japanese firm that owns the Ever Given, told Bloomberg it would discuss compensation with the canal authority but declined to give further details.

Rabie said those losses include damage to the canal - a crucial trade route between Europe and Asia - transit fees, and equipment and labor costs, according to Bloomberg News.

"The amount of damage and losses, and how much the dredgers consumed, will be calculated", Rabie said. "This country should get its due".

"This is the right of the country", Rabie said, adding that the incident hurt Egypt's reputation.

The Ever Given's stranding across a southern section of the canal forced a halt to all traffic, leading to a build-up of 422 ships at either end of the canal and along its course.


A cargo ship sails through the town of Ismailia, Egypt, Tuesday, March 30, 2021 as traffic resumed through the Suez canal after it was blocked by a massive ship that had been stuck sideways for almost a week.

A great number of oil tankers had diverted away from the canal. Sailing via the Suez Canal reduces the distance between the ports in Mumbai and NY by over 3,200 nautical miles, compared to sailing around the Cape of Good Hope.

While die Suez Canal Authority announced yesterday that die Shipping is back to normal and 81 ships are sailing through the canal.

Egypt's Leth Agencies said yesterday that a total of 163 ships had transited the Suez Canal since its reopening and that 292 ships were now waiting.

The Evergreen management also exuded confidence that there will not be a dispute.

"In 40 years now, not a single case of dispute has happened between SCA and Evergreen", he said in an interview.

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