Egypt expects $1 billion in damages over stuck ship in Suez [View all]

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Egypt expects $1 billion in damages over stuck ship in Suez

https://www.cp24.com/world/egypt-expects-1-billion-in-damages-over-stuck-ship-in-suez-1.5371635

Samy Magdy, The Associated Press
Published Thursday, April 1, 2021 2:16PM EDT

CAIRO - Egypt is expecting more than $1 billion in compensation after a cargo ship blocked the Suez Canal for nearly a week, according to the top canal official. He also warned the ship and its cargo will not be allowed leave Egypt if the issue of damages goes to court.

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Rabie also said that if an investigation went smoothly and the compensation amount was agreed on, then the ship could travel on without problems.

However, if the issue of compensation involved litigation, then the Ever Given and its some $3.5 billion worth of cargo would not be allowed to leave Egypt, he told the show's host.

Litigation could be complex, since the vessel is owned by a Japanese firm, operated by a Taiwanese shipper, and flagged in Panama.

(more at link)
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This could get messy . . .

W