Egyptian Authorities: Claims for the Changci Reduced to US$ 600 million

According to the report from Shipping Network on May 10, the Suez Canal Authority proposed that the authority would cut its owner’s claim by one-third for the container ship Ever Given that blocked the Suez Canal for nearly a week.
The 400-meter-long ship is owned by Shoei Kisen Kaisha Ltd. and was stuck in the canal for six days during the lease by Taiwan’s Evergreen Line.
Osama Rabie, chairman of the Suez Canal Authority, told MBC Masr that the Egyptian side reduced its claims by one-third for the container ship owner who blocked the Suez Canal in March.
According to Osama Rabie, the Canal Authority stated that Egypt would reduce the amount of claims from 900 million U.S. dollars to 600 million U.S. dollars. The Canal Authority also provided payment terms to the container ship Changci, but they have not yet responded.
Due to delays in compensation negotiations, an Egyptian court approved the Suez Canal Authority’s request to seize the ship in mid-April. The Suez Canal can shorten the voyage between Asia and Europe by two weeks. Hundreds of ships have to wait for the canal to reopen. This blockage disrupted the shipping market.
The Canal Authority stated that the compensation covers the loss of canal tolls, the cost of damage to the waterway during the dredging and salvage work, as well as the cost of equipment and labor.