Amwal Al Ghad congratulates Mohamed Farid on his appointment as Egypt financial regulator chief    Saudi Arabia to launch company to attract $10 billion investments in Egypt    China's foreign exchange reserves jump to $3.104 trillion – SAFE    Egypt, South Korea to perform Pyramids Air Show 2022 Today    Egypt: Sisi appoints 73 female judges in the Court of First Instance    Egypt closer to export COVID vaccines after reaching 2nd highest WHO classification    Spain: prosecutor seeks 8 years sentence for Shakira over tax evasion    Egypt: Alamein Art Festival kicks off a collection of recycled installations    Russia delivers test kits of monkeypox to Egypt    John Legend enjoys family trip in Egypt    Sisi: Egypt wants to join BRICS    Egypt: street photography will no longer require permits    Sisi: Egypt determined to transition to low-carbon economy    Sisi, Biden discuss cooperation between two countries    Egypt's athlete Basma Emad wins bronze in weightlifting in Mediterranean Games    Congo needs Egypt's expertise to diversify its economy – FPI official    Noura Al-Mutair – first Gulf female boxer in World Championships    Egypt to play key role in integrating water, climate issues globally – World Bank official    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    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.



Ever Given insurer says engaged in 'serious and constructive negotiations' with Egypt's Suez Canal Authority over compensation claim
Published in Ahram Online on 17 - 06 - 2021

UK Club, an insurer for the giant Ever Given ship that ran aground and blocked Egypt's Suez Canal in March, said it is currently engaged in "serious and constructive negotiations" with the canal's authority over its compensation claim.
In an official statement on Wednesday, the UK Club said it's now involved in talks regarding the authority's claim over the grounding of the ship for six days.
"It is hopeful of a positive resolution to these negotiations in the near future," it said, signaling renewed efforts to reach a settlement over the ship crisis amid an ongoing legal dispute and an exchange of blame over which party was at fault over the crisis.
Last month, the Suez Canal Authority (SCA) rejected claims by UK Club that the speed of the Ever Given was controlled by the canal's operator before it ran aground in the canal.
The SCA said that exceeding set speeds at the country's strategic canal is the sole responsibility of the ship's captain.
The ship insurer's statement came in response to statements by SCA officials that the ship was sailing too fast and that the error was entirely the responsibility of the Ever Given's captain and not that of the canal's operator, whose opinion is non-binding.
The dispute over which party is at fault, which crippled the global supply chain in March for nearly a week, comes amid a continuing legal dispute over the ship.
In late May, a trial over the Ever Given was adjourned to 20 June to allow for further negotiations on the compensation value.
The Ismailiya Economic Court postponed the hearing upon requests made by the lawyers representing the SCA and the ship owner.
The lawyers said the postponement is meant to allow for an amicable solution to the ship crisis to be reached.
The SCA had 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.