Ever Given Charged $1B By Suez Canal Authority; Ship Owner Files Suit

Egypt said on Wednesday that it may seek approximately $1 billion in compensation after a giant container vessel blocked one of the most crucial waterways in the world for almost a week.

According to the Egyptian authorities, the cargo vessel might get prohibited from leaving the country if the issue is going to be forwarded to the court.

Lt. Gen. Ossama Rabei, the chief executive officer of Suez Canal Authority, said in a press release on Wednesday that the figure is only a rough estimate of the costs for the equipment and machinery and salvage operations that have been necessary to resolve the issue of the massive cargo ship Ever Given’s grounding.

The amount would also cover the incurred losses from transit fees, as well as the costs of stalled traffic for the week that the Ever Given had blocked the Suez Canal.

“We will reach over a billion dollars in compensation,” Rabie told Egypt’s Sada El Balad channel in an interview, adding that the authorities are asking for a fair amount in compensation, without specifying who the Canal Authority would seek compensation from.

“We saved them so much by rescuing the ship without any major damage or losses,” he said. “The whole ship could’ve been lost.”

“This is the right of the country. It should get its due.”

The Panamanian flagged Ever Given is chartered to the Taiwanese carrier Evergreen, and is owned by Panama-based Luster Maritime SA, a subsidiary of Japanese shipowner Shoei Kisen Kaisha Ltd.

Shoei Kisen Kaisha has filed suit to limit damage and declared general average in connection with the disaster.

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