Egypt demands $ 900 million, seized by Ever Geffen

Negotiations are underway between the Canal Authority and the Japanese company, Shu Kisen, which owns the ship, and the insurance companies.

The government newspaper Al-Ahram reported today, Tuesday, that Egypt is demanding compensation of $ 900 million after the siege of the Suez Canal at the end of this March, and the container ship that caused this was seized in the meantime. The head of the Suez Canal Authority had stated on public television on Monday evening.NegotiationIn order to obtain compensation for damage caused when Ever Geffen was stranded for about a week across the canal, crippling traffic on this important seaway.

Egypt did not complyno mistakeIn this accident, he said, by blaming the ship. “Negotiations are ongoing, and there are still many (sticking) points with the company and the insurance“starting from”sum»Said Admiral Osama Rabie.

See also – Traffic returned by leaps and bounds on the Evergreen River, which closed the Suez Canal (video 03/29/2021)

Ongoing negotiations

A source inside the Securities and Commodities Authority confirmed to Agence France-Presse that negotiations with the Japanese company, Shu Kisen, the owner of the ship, and the insurance companies. Al-Ahram reported, Tuesday, that the admiral indicated that his country wanted to pay 900 million dollars (about 750 million euros). “The Panamanian ship Evergreen was seized due to failure to pay an amount of $ 900 million (…) according to a ruling issued by the Ismailia Economic CourtHe said (it). The amount corresponds, according to the same source, to “The losses caused by the boat to the Authority in addition to the operations to resurfoot and maintain it».

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Widespread blockage and losses

Traffic on the canal, which accounts for more than 10% of world trade, resumed on March 29 after the ship was re-floated with the help of international experts. More than 400 ships were stranded north and south of the isthmus for six days, causing massive traffic jams. Flying the Panama flag, it is equivalent to four soccer fields, and has since been stationed at Great Amer Lake, in the center of the canal.

According to the Securities and Commodities Authority, Egypt lost between $ 12 million and $ 15 million per day and the channel was closed. And one of the main sources of income, I brought about $ 5.7 billion from him in Cairo in 2019-2020. According to insurance company Allianz, each crash day has resulted in total losses of between six and ten billion dollars.

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