Amercan Military News by Mirette Magdy and Salma El Wardany - Bloomberg News July 05, 2021
A giant container ship that had blocked Egypt’s Suez Canal for nearly a week earlier this year will be released on July 7 following an agreement between authorities and the vessel’s owners, the canal authority said Sunday.
The canal authority had initially sought over $900 million in damages and compensation that included recovering expenses related to freeing the ship, lost revenue and other costs and claims. The figure was later lowered to $550 million.
Japan’s Shoei Kisen Kaisha Ltd., the owner, and the ship’s insurers initially offered $150 million.
The SCA brought the matter to an Egyptian court, which ordered the seizure of the ship pending resolution of the dispute. Authorities had said, however, that they were eager to reach an out-of-court agreement and that the ship would be allowed to leave once such a deal is reached.
More:
https://americanmilitarynews.com/2021/07/ever-given-saga-nears-end-as-ship-poised-to-leave-suez-canal/
