Egypt is expected to sign the agreement for the compensation of the losses incurred due to Ever Given being stuck in the Suez canal, by next week.
The Suez Canal Authorities (SCA) Chairman, Osama Rabie, informed the local news that the owners and insurers of Ever Given and the authority will be signing an agreement next week. He refused to disclose any other details regarding the deal or compensation amount.
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“We are now working with the SCA to finalize a signed settlement agreement as soon as possible” said Stann Marine Director, Faz Peermohamed, in a statement. “Once the formalities have been dealt with, arrangements for the release of the vessel will be made”, he added.
Egypt has initially solicited an amount of nearly $900 million, which was later amended and reduced to $550 million, covering the transit fee, damage due to salvaging, and labor cost. However, the owners and insurers of Japan Shoei Kisen Kaisha Ltd. offered an initial sum of $150 million.
Ever Given was a Taiwan flagged container vessel, which was travelling from China to Rotterdam, when it got grounded in the Suez Canal on March 23, choking the international trade for six days. The vessel was freed on March 29. After which, it sailed to Great Bitter Lake, where it was kept under the custody of Egyptian authorities.