Egypt's Al-Sisi meets Rosatom chief as new Dabaa plant deals are signed    CPME shareholders approve EGP 2.8bn acquisition of Qardy, Catalyst Partners Holding    How the Ramses Central Fire Disrupted Egypt's Internet, Stock Exchange, and Banking Sectors    Philippines' unemployment rate falls in May '25    Gold prices dip on stronger US Treasury yields    Egypt's data systems fully backed up after Ramsis Exchange fire: minister    Egypt, Somalia leaders discuss strategic partnership, counterterrorism in New Alamein    Egypt, UNDP discuss expanded cooperation on medical waste management, human development    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM, Uruguay's president discuss Gaza, trade at BRICS summit    Egypt, Uruguay eager to expand trade across key sectors    Egypt accelerates coastal protection projects amid rising climate threats    Egypt's PM calls Israeli war on Gaza 'most dangerous crisis' at BRICS summit    Egypt, Norway hold informal talks ahead of global plastic treaty negotiations    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egyptian court upholds decision to prevent Ever Given ship from leaving Suez Canal pending compensation payment
Published in Ahram Online on 04 - 05 - 2021

An Egyptian economic court upheld on Tuesday a ruling to prevent the giant Ever Given ship that blocked the Suez Canal in March from leaving the country pending the payment of $900 million in compensation for the losses incurred by the blockage.
The court rejected a legal appeal by the ship owner against a ruling that granted the Suez Canal Authority (SCA) the request to impound the mega container ship as ongoing compensation talks lingered.
The Panama-flagged MV Ever Given, which is carrying cargo worth more than $3.5 billion, is owned by the Japanese firm Shoei Kisen and operated by a Taiwanese Evergreen Marine Corp.
The 400-metre-long ship, which had run aground across the canal on 23 March and refloated on 29 March, remains idle in the Bitter Lakes, a wide stretch of water halfway between the north and south ends of the canal, where an investigation into the incident has been ongoing.
A fleet of tugboats and diggers, with the assistance of the tide, managed to refloat the vessel, whose bow had been firmly lodged into the canal sandy bank, causing a huge build-up of vessels at the strategic waterway.
The Ever Given's protection and indemnity (P&I) insurer, UK Club, said last month it was "disappointed" by what it described as the arrest of the vessel despite a "carefully considered and generous offer" made to the SCA.
It did not provide details on the offer it has submitted to the SCA.
It said the SCA has not provided a detailed justification for this "extraordinarily large claim", which it said includes a $300 million claim for a "salvage bonus" and a $300 million claim for "loss of reputation".


Clic here to read the story from its source.