Egypt is asking for $900 million in compensation for damages suffered after the blockade of the Suez Canal by a container ship at the end of March, crippling traffic on this crucial seaway.
Head the Suez Canal Authority (SCA) Admiral Ossama Rabie, had reported on public television that negotiations were continuing, with still many points of contention with the company and the insurance.
Rabie stated that the amount corresponds to losses caused by the boat to the Authority in addition to its refloating and maintenance operations.
A source within the SCA has also confirmed ongoing negotiations with the Japanese company Shoei Kisen, owner of the ship, and insurance companies.
He said Egypt made no mistake in this incident, and blamed the ship, The Panamanian ship Ever Given which has since been seized, due to the non-payment of the sum of 900 million dollars by virtue of a judgment rendered by the economic court of Ismailia.
Traffic on the canal, which accounts for more than 10% of world trade, resumed on March 29 after the ship was refloated with the help of international experts.
According to SCA, Egypt lost between $ 12 million and $ 15 million per day the canal was closed.
Over 400 ships had been stranded north and south of the isthmus for six days, forming gigantic traffic jams.
Discover more from LN247
Subscribe to get the latest posts sent to your email.
