Egypt: Ever Given Stuck In Suez Canal Until Owners Pay $1B For Chaos

The fate of the now-famous Ever Given cargo vessel continues to
be newsworthy. While the 1300-foot-long container ship has been
freed from its sideways grounding in the Suez Canal, it remains in
the canal. The reason, you ask? Egyptian authorities say they want
the ship’s owners to pay a king’s ransom to compensate for the week
that the canal was shut down.

Osama Rabie, chairman of the Suez Canal Authority (SCA), said on
Egyptian state television this week that the country will hold onto
the ship while it investigates what happened and until the ship’s
owner pay $1 billion. The SCA estimates the losses from the week,
ending March 29, that the Ever Given was stuck and blocking other
traffic through the canal at $95 million in lost transit fees, and
there are also the costs to free the ship and other expenses to
reimburse.

The Ever Given currently remains inside the Suez Canal, in a
wider area called the Great Bitter Lake.

“The vessel will remain here until investigations are complete
and compensation is paid,” he said, according to the Wall Street
Journal. “The minute they agree to compensation, the vessel will be
allowed to move.”

That’s a fairly straightforward description of a complicated
issue. On board are 25 Indian crew members, and the National Union
of Seafarers of India issued a statement that said the SCA and the
boat’s owners are allowed to investigate, but that these
discussions should not create a piracy-like situation.

“If the SCA has suffered losses, they can sort it out with those
involved with the ship but that cannot haul up seafarers in any
manner,” the National Union of Seafarers of India’s general
secretary told the Times of India.

It’s not just Egyptian authorities who are asking for money. The
Wall Street Journal said insurance claims for the boat’s week in
the spotlight could include losses for perishable goods as well as
supply-chain disruptions.

The Ever Given is owned by a Japanese company, Shoei Kisen
Kaisha, which told the Journal that it is in discussions with
Egyptian authorities and cooperating in the investigation but has
not officially heard about the billion-dollar ransom. The company
has started liability-limiting court proceedings in London.

A representative of the International Transport Workers
Federation, also based in London, told the Wall Street Journal that
the crew appears to be well treated while they remain on board the
ship.

The fate of the now-famous Ever Given cargo vessel continues to
be newsworthy. While the 1300-foot-long container ship has been
freed from its sideways grounding in the Suez Canal, it remains in
the canal. The reason, you ask? Egyptian authorities say they want
the ship’s owners to pay a king’s ransom to compensate for the week
that the canal was shut down.

Osama Rabie, chairman of the Suez Canal Authority (SCA), said on
Egyptian state television this week that the country will hold onto
the ship while it investigates what happened and until the ship’s
owner pay $1 billion. The SCA estimates the losses from the week,
ending March 29, that the Ever Given was stuck and blocking other
traffic through the canal at $95 million in lost transit fees, and
there are also the costs to free the ship and other expenses to
reimburse.

The Ever Given currently remains inside the Suez Canal, in a
wider area called the Great Bitter Lake.

“The vessel will remain here until investigations are complete
and compensation is paid,” he said, according to the Wall Street
Journal. “The minute they agree to compensation, the vessel will be
allowed to move.”

That’s a fairly straightforward description of a complicated
issue. On board are 25 Indian crew members, and the National Union
of Seafarers of India issued a statement that said the SCA and the
boat’s owners are allowed to investigate, but that these
discussions should not create a piracy-like situation.

“If the SCA has suffered losses, they can sort it out with those
involved with the ship but that cannot haul up seafarers in any
manner,” the National Union of Seafarers of India’s general
secretary told the Times of India.

It’s not just Egyptian authorities who are asking for money. The
Wall Street Journal said insurance claims for the boat’s week in
the spotlight could include losses for perishable goods as well as
supply-chain disruptions.

The Ever Given is owned by a Japanese company, Shoei Kisen
Kaisha, which told the Journal that it is in discussions with
Egyptian authorities and cooperating in the investigation but has
not officially heard about the billion-dollar ransom. The company
has started liability-limiting court proceedings in London.

A representative of the International Transport Workers
Federation, also based in London, told the Wall Street Journal that
the crew appears to be well treated while they remain on board the
ship.