The owners and agencies with which the giant cargo ship that blocked the Suez Canal for almost a week in March reached an agreement in principle on resolving the dispute with the Canal Administration on compensation for that blockade, said representatives of both sides, without specifying the solution.

The central issue of the dispute is the amount of compensation demanded by the Suez Canal Administration due to the six-day blockade of the passage in which the ship was blocked and ran aground.

The amount will cover the operation to unblock the canal, ie the launch of the ship “Ever Given” and the costs incurred due to the interruption of traffic in the Canal, which includes transit fees that fill the state budget of Egypt.

The management of the Suez Canal initially demanded 916 million dollars in damages, and later mitigated the request to 550 million.

A court in Cairo postponed the start of the process initiated on the occasion of the blockade of the Suez Canal until Sunday, July 4, because the legal team of the Suez Canal Administration stated that they were considering the offer of the ship’s owner.

The suspected culprit for the blockade, a 400-meter Panamanian-flagged ship “Ever Given” transporting containers between Asia and Europe, has been “anchored” in March since March, according to the decision of the Egyptian authorities, anchored on a lake in the middle of the Suez Canal. the dispute over compensation is not resolved.

The six-day blockade of the canal disrupted the global delivery of goods. Hundreds of ships stopped until the Canal was unblocked, and some ships were forced to travel a much longer distance around the whole of Africa, which forced them to pay extra for fuel and incur other costs.

About ten percent of the world’s trade in goods passes through the Suez Canal.

By Editor

Leave a Reply