An Egyptian appeals court on Sunday, May 23, 2021, said it lacks jurisdiction to look into the Suez Canal Authority’s demands to uphold financial claims that led to the seizure of the massive Ever Given that blocked the waterway in March. (AP/Mohamed El-shahed)

An Egyptian appeals court on Sunday, May 23, 2021, said it lacks jurisdiction to look into the Suez Canal Authority’s demands to uphold financial claims that led to the seizure of the massive Ever Given that blocked the waterway in March. (AP/Mohamed El-shahed)

Egypt court adjourns Suez ship case for more compensation talks

Suez Canal Authority is asking for funds for the salvage of a vessel that blocked the waterway for 6 days in March

An Egyptian court on Saturday adjourned the case of a massive hulking cargo vessel that blocked the Suez Canal for nearly a week earlier this year. The move is to allow more time for negotiations aiming at resolving a financial dispute between the Suez Canal Authority and the vessel’s owner.

The dispute centers on the compensation amount the Suez Canal Authority is claiming for the salvage of the vessel Ever Given, which ran aground in March, blocking the crucial waterway for six days in March.

At first, the Suez Canal Authority demanded $916 million in compensation, which was later lowered to $550 million, the head of the canal authority, Lt. Gen. Osama Rabie, said in comments on a television program on Sunday.

The money would cover the salvage operation, costs of stalled canal traffic, and lost transit fees for the week the Ever Given blocked the canal.

The vessel’s Japanese owner, Shoei Kisen Kaisha Ltd., and insurers said the demand is still too high. They previously had offered $150 million in compensation but that was rejected by the canal authority.

The Ismailia Economic Court adjourned the hearing to June 20, as the vessel’s owner submitted a new offer to settle the dispute out of court, the Suez Canal Authority said in a statement.

The statement offered no further details.

Since it was freed, the Panama-flagged vessel, which carries cargo between Asia and Europe, has been ordered by authorities to remain in a holding lake mid-canal as its owner and the canal authority try to settle the compensation dispute.

The two sides have traded blame for the vessel’s grounding.

The six-day blockage disrupted global shipping. Hundreds of ships waited in place for the canal to be unblocked, while some ships were forced to take the much longer route around the Cape of Good Hope at Africa’s southern tip, requiring additional fuel and other costs.

About 10 per cent of world trade flows through the canal, a pivotal source of foreign currency to Egypt. Some 19,000 vessels passed through the canal last year, according to official figures.

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Egypt

Just Posted

Black Press file photo
RCMP seek suspect in Vancouver Island-wide crime spree

Crimes stretched from Deep Bay to Qualicum, Ladysmith, Chemainus and Youbou

North Cowichan’s committee of the whole have rejected staff’s recommendation to limit the use of fireworks to Halloween. (File photo)
North Cowichan rejects limiting fireworks to Halloween

Municipality decides staff recommendation would be unpopular

Things are looking up for Vancouver Island as zero COVID-19 cases have been reported for the first time since October. THE CANADIAN PRESS/Darryl Dyck
Island records zero new COVID-19 cases for the first time since October

For the first time since October, the province is reporting zero new… Continue reading

CVRD Area E director Alison Nicholson, right, hiked two hours to Waterfall Camp at the Fairy Creek watershed along with Comox town councillor Nicole Minion and Comox Valley Regional District director Daniel Arbour to meet with old-growth logging activists on Monday, June 7. (Submitted)
Cowichan Valley regional director visits Fairy Creek protest camps

‘They clearly communicated that they are committed to what they are doing’

A small pod of Pacific white-sided dolphins pass by close to shore in Campbell River June 16, 2021. Still capture from video courtesy of Kimberly Hart
VIDEO: Dolphin sunset captured from Vancouver Island shore

Spectacular setting for view of travelling pod of Pacific white-sided dolphins

Karl and Stephanie Ann Johanson were thrilled to spot a pair of Sandhill Cranes in the Panama Flats this month, an unusual appearance for such birds. (Photo by Stephanie Ann Johanson)
WATCH: Sandhill cranes an unusual, joyful sight in South Island parkland

These birds don’t often touch down on their way between northern B.C. and Mexico

(V.I. Trail/Google Maps)
Now 90% complete, Vancouver Island trail forges new funding parnership

Victoria Foundation takes on Vancouver Island Trail Association; fund valued at $40,000

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Police are asking for public assistance in locating Anthony Graham who has been charged with the murders of Kamloops brothers Carlo and Erick Fryer. (RCMP photo)
2 charged, suspect at large in killings of B.C. brothers linked to gang activity: RCMP

Kamloops brothers Erick and Carlo Fryer were found deceased in May on a remote Okanagan road

Albert Health Minister Tyler Shandro and Alberta Premier Jason Kenney unveil an opening sign after speaking about the Open for Summer Plan and next steps in the COVID-19 vaccine rollout, in Edmonton, Friday, June 18, 2021. THE CANADIAN PRESS/Jason Franson
Alberta 1st province in Canada to lift all COVID-19 public health restrictions

70.2% of eligible citizens 12 and older in the province have received a dose of the vaccine

Fraser Health registered nurse Ramn Manan draws a dose of the Pfizer COVID-19 vaccine into a syringe at a walk-up vaccination clinic at Bear Creek Park, in Surrey, B.C., on Monday, May 17, 2021. THE CANADIAN PRESS/Darryl Dyck
‘Honour our fathers’ with COVID-19 vaccine protection, B.C. urges

109 new cases Friday, 75 per cent of 12 and up immunized

Freighters have becomd abundant in the Trincomali Channel on the east side of Thetis Island.
Nanaimo ponders taking on waste from nearby anchored freighters

Vancouver-based Tymac petitioning the Regional District of Nanaimo to accept waste at its landfill

(Paul Henderson/ Chilliwack Progress)
Trutch Avenue in Chilliwack to be renamed to remove racist taint

New name to have Indigenous significance as Chilliwack takes new step toward reconciliation

Most Read