FRA approves establishment of five new firms for investment fund management, SME financing    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's Environment Minister attends AMCEN conference in Nairobi    Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation    Egyptian, Belarusian officials discuss drug registration, market access    Egypt's ARC, Italy's AICS sign deal to boost wheat production    Gold prices edge higher on July 16th    Egypt stocks hit record highs in 2025 as reforms fuel rally: Cabinet    Egypt condemns Israeli strikes on Lebanon, Syria    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt's Health Min. discusses drug localisation with Sandoz    Egypt, Mexico explore joint action on environment, sustainability    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM urges BRICS to prioritise peace    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    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    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.



Egypt's Suez Canal Authority showing 'full flexibility' in compensation talks with Ever Given owner: Chairman
Published in Ahram Online on 31 - 05 - 2021

Egypt's Suez Canal Authority (SCA) has been showing "full flexibility" in compensation negotiations with the owner of the giant Ever Given vessel that blocked traffic in the strategic canal for six days in March and disrupted global trade, the authority's chairman said on Monday.
Osama Rabie, chairman of the SCA, told a delegation from the Indian Embassy in Egypt that the authority has spared no effort from its side to ensure the success of the talks, which continue despite an ongoing legal dispute between the SCA and the mega-ship's Japanese owner Shoei Kisen over the impounding of the vessel by the authority.
The visit by the diplomatic delegation aims to follow up on the conditions of the Indian crew members currently on board the impounded 400-meter ship in Ismailia.
They were allowed on board the ship to check on the crew members, a statement by the SCA said, stressing the importance of providing for the needs of the crew and understanding related humanitarian aspects.
Such an understanding has been demonstrated by allowing some of the crew members to return to India due to personal reasons in the past weeks, Rabie said.
Monday's meeting comes one day after the SCA's commissioner-general of the investigation said a probe into the grounding of the Panamanian container ship put blame on the ship's captain after an error in steering the vessel.
A lawyer representing the ship's Japanese owner Shoei Kisen argued the SCA had been at fault for allowing the ship to enter the waterway amid bad weather, adding that the authority "failed to prove any fault by the ship."
The exchange of blame over the crisis, which crippled the global supply chain in March for nearly a week, comes amid continuing legal dispute over the ship.
On Saturday, a trial over the Ever Given was adjourned to 20 June to allow for further negotiations on the compensation value.
The Ismailia Economic Court postponed the hearing upon the requests made by the lawyers representing the SCA and the ship owner.
The lawyers said the postponement is meant to provide more time to reach an amicable solution to the ship crisis.
The hearing came days after the SCA slashed its compensation claim of $916 million to $550 million to settle the current judicial dispute, with the mega-ship to be allowed to leave if nearly 40 percent of the sum is paid in cash.
The Ever Given's insurers say the demanded sum is still too high, previously offering to pay $150 million in compensation for the six-day traffic halt.
The ship ran aground across the canal on 23 March and was refloated on 29 March by a fleet of Egyptian tugboats and diggers, with the assistance of the tide.
The vessel has since been anchored in a lake between two sections of the canal.


Clic here to read the story from its source.