An Egyptian court postponed the case of a container ship blocking the Suez Canal on Saturday to allow more time for compensation negotiations. The authorities demanded more than US$916 million in damages for the six-day waterway closure in March, which shocked the shipping market, but reduced this figure out of court. Negotiated US$550 million and stated that he had misjudged the value of the cargo on board.

Demand is still too high

Ship insurance companies say that demand is still too high. Nabil Zidane, a lawyer for the Suez Canal Authority of the court, said: “We are working hard to reach an agreement. Since these are good customers, we ask the court to postpone the hearing and deliberation of the owners’ proposal.” Very flexible,” said Ahmed Abu Sha Nab, the owner’s lawyer. Before Sunday’s hearing, Zidane stated that the Suez Canal Authority would re-enumerate his lawsuit, but did not provide any further details on what this means for the lawsuit.

New figure will be US$150 million

According to the authorities, the new figure will be US$150 million. , Which includes lost tickets, water damage, equipment and does not include labor costs. Ever Given is owned by Shoei Kisen Kaisha Ltd. He was released after a rescue operation on March 29 and sailed to Moscow’s Greater Gorky Lake, which is roughly in the middle of the strait, where he has remained there ever since. About 50 ships pass through the Suez Canal every day, which can shorten the voyage between Europe and Asia by two weeks. More than 400 ships were blocked by the blockade, but most of them were able to pass shortly after the blockade opened. Egypt began dredging in May to expand the southern end of the canal stuck by Ever Givan.

ever given after ran ground in Suez canal
The ship Ever Given ran aground in the Suez canal. PC: Times News Express

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