Hindustan Times (Jammu)

Egypt seizes Ever Given container ship over $900mn compensati­on

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Egypt seized the giant container vessel that blocked the Suez Canal last month as part of an effort to get more than $900 million in compensati­on.

A court in the city of Ismailia granted a seizure request regarding the Ever Given vessel at the behest of the Suez Canal Authority. Egypt’s move underscore­s the legal complicati­ons following the container vessel’s grounding on March 23, which closed the canal for six days and roiled shipping markets. Logjams are expected to continue in the coming weeks at major ports such as Singapore and Rotterdam because of disruption­s to schedules, according to supplychai­n data provider project44.

The 25 Indian crew members remain on board the ship, which is in the Great Bitter Lake, about halfway along the canal.

The SCA’s chief executive officer, Osama Rabie, told an Egyptian TV channel that negotiatio­ns with the ship’s owner -Japan-based Shoei Kisen Kaisha Ltd. -- and insurers were taking longer than expected.

The ship’s insurer for thirdparty losses, the UK P&I Club, said in a statement that the owner received a claim for $916 million. “Despite the magnitude of the claim, which was largely unsupporte­d, the owners and their insurers have been negotiatin­g in good faith with the SCA,” the statement on Tuesday said.

The manager of the ship, Bernhard Schulte Shipmanage­ment, said it was “extremely disappoint­ed” with the arrest of the ship.

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