Egyptian authorities impound ship that blocked Suez Canal amid financial dispute

0
207

Egyptian authorities impounded a massive cargo vessel that blocked the Suez Canal last month, the canal chief and a judicial official said Tuesday. The ship was impounded amid a financial dispute with its owner.

Lieutenant General Osama Rabie said the hulking Ever Given would not be allowed to leave the country until a compensation amount is settled on with the vessel’s Japanese owner, Shoei Kisen Kaisha Ltd.

“The vessel is now officially impounded,” he told Egypt’s state-run television late Monday. “They do not want to pay anything.”

There was no immediate comment from the vessel’s owner.

Rabie did not say how much money the canal authority was seeking. However, a judicial official said it demanded at least $900 million. The state-run Ahram daily also reported the $900 million figure.

That amount takes into account the salvage operation, costs of stalled canal traffic and lost transit fees for the week that the Ever Given blocked the canal.

Read More…