Ever Given Impounded by Egyptian Authorities, Billed $900m for Compensation

Egyptian authorities have seized the Ever Given and are asking for $900 million in compensation after the massive cargo ship blocked the Suez Canal for multiple days last month.

Courts in Egypt ordered Japanese owner of the Ever Given Shoei Kisen Kaisha to pay the sum after its ship prevented global trade in the port for almost a week in March. The bill includes all maintenance fees and the cost of rescue operations.

International salvage operations worked overtime to dislodge the ship from the side of the canal as critical supplies for much of Europe sat, unable to enter port. The crews were able to successfully refloat the Ever Given on March 29.

The UK Club, protection and indemnity insurer for the Ever Given, responded to the claim made by the Suez Canal Authority, questioning major portions of the claim including a $300 million “salvage bonus” and a $300 million claim for “loss of reputation”.

The ship and its cargo were seized by the Suez Canal Authority until the dispute is resolved.

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