March 31, 2023

Athens News

News in English from Greece

Blocking the Suez Canal will cost the owner of Ever Given $ 540 million

For six days, the container ship Ever Given blocked shipping through the Suez Canal. After difficult three-month negotiations, the parties came to an agreement – the owner of the vessel will pay $ 540 million.

On reaching an agreement, referring to data from the Suez Canal Administration, TASS informs:

“It was decided to resolve the crisis by mutual agreement between the management of the canal and the ship owner, with the receipt of compensation of $ 540 million, of which 240 million will be paid at the first stage, and the remaining 300 million will be paid in installments during the year, and the canal will also receive a modern tugboat “.

Under the terms of the agreement, $ 240 million will be paid by the ship owner immediately, and the remaining $ 300 million – in installments within a year. Now the ship that was arrested and stood for 3 months, heading towards the Mediterranean Sea, continuing the flight to Rotterdam, interrupted in March.

Egyptian authorities have said they will not release the giant container ship Ever Given until its owners pay nearly $ 1 billion in compensation for the chaos the ship has caused. On March 23, it stuck sideways in the middle of the Suez Canal, stopping traffic on one of the busiest trade routes in the world for almost a week. In May, management agreed to reduce the amount to $ 550 million.

It is known that in early April, the Japanese company that owns Ever Given filed a general average ㅡ claim for the salvage of a vessel or cargo on it. Such losses are apportioned among the parties involved in the operation of the vessel. That is, the risks that something will happen to the ship are distributed to all participants in the order for the delivery of cargo on it. For example, the lawsuit filed by Shoei Kisen Kaisha Ltd lists Evergreen and 15 other defendants.

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