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

Tammy Bradford, manager of the Creston Museum & Archives for the last 23 years, wants to welcome visitors to check out their exhibits and programs this summer. (Photo by Kelsey Yates)
Creston Museum encourages summer visitors to check out programs and activities

After some temporary closures of indoor exhibits due to COVID-19, the museum has re-opened to welcome visitors

Forty sled dogs were seized by the BC SPCA from a Salmo kennel in February. A recent ruling has decided the dogs won’t be returned. Photo: Gounsil/Flickr
BC Farm Industry Review Board rules against Salmo kennel after 40 sled dogs seized

Spirit of the North Kennels was also ordered to pay BC SPCA $64,000

Nasukin Jason Louie of the Lower Kootenay Band poses under the mural in the administration building. The mural depicts past elders David Luke, Wilfred Jacobs, Isobel Louie, Charlotte Basil, and Louis White. (Photo by Kelsey Yates)
Lower Kootenay Band announces cross-border COVID-19 vaccine clinic

In partnership with the Kootenai Tribe of Idaho, the clinic will be held on National Indigenous Peoples Day

An old-growth stand pictured in Saook Bay on northeastern Baranof Island. Some individual trees were over six feet in diameter and many centuries old. (Photo courtesy of John Schoen)
E-Tips: Stop Deforestation

Trees are one of the regulators of our planet’s climate

Residents line up outside the Vernon Recreation Complex for their COVID-19 vaccine Saturday, June 5. (Jennifer Smith - Morning Star)
No appointments necessary for first dose COVID-19 vaccine: Interior Health

People can just show up at clinics, register on the spot and get the shot

At an outdoor drive-in convocation ceremony, Mount Royal University bestows an honorary Doctor of Laws on Blackfoot Elder and residential school survivor Clarence Wolfleg in Calgary on Tuesday, June 8, 2021. THE CANADIAN PRESS/Jeff McIntosh
‘You didn’t get the best of me’: Residential school survivor gets honorary doctorate

Clarence Wolfleg receives honorary doctorate from Mount Royal University, the highest honour the school gives out

Two-year-old Ivy McLeod laughs while playing with Lucky the puppy outside their Chilliwack home on Thursday, June 10, 2021. (Jenna Hauck/ Chilliwack Progress)
VIDEO: B.C. family finds ‘perfect’ puppy with limb difference for 2-year-old Ivy

Ivy has special bond with Lucky the puppy who was also born with limb difference

A million-dollar ticket was sold to an individual in Vernon from the Lotto Max draw Friday, June 11, 2021. (Photo courtesy of BCLC)
Lottery ticket worth $1 million sold in Vernon

One lucky individual holds one of 20 tickets worth $1 million from Friday’s Lotto Max draw

“65 years, I’ve carried the stories in my mind and live it every day,” says Jack Kruger. (Athena Bonneau)
‘Maybe this time they will listen’: Survivor shares stories from B.C. residential school

Jack Kruger, living in Syilx territory, wasn’t surprised by news of 215 children’s remains found on the grounds of the former Kamloops Indian Residential School

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

A logging truck carries its load down the Elaho Valley near in Squamish, B.C. in this file photo. THE CANADIAN PRESS/Chuck Stoody
Squamish Nation calls for old-growth logging moratorium in its territory

The nation says 44% of old-growth forests in its 6,900-square kilometre territory are protected while the rest remain at risk

Flowers and cards are left at a makeshift memorial at a monument outside the former Kamloops Indian Residential School to honour the 215 children whose remains are believed to have been discovered buried near the city in Kamloops, B.C., on Monday, May 31, 2021. THE CANADIAN PRESS/Darryl Dyck
‘Pick a Sunday:’ Indigenous leaders ask Catholics to stay home, push for apology

Indigenous leaders are calling on Catholics to stand in solidarity with residential school survivors by not attending church services

“They will never be forgotten, every child matters,” says Sioux Valley Chief Jennifer Bone in a video statement June 1. (Screen grab)
104 ‘potential graves’ detected at site of former residential school in Manitoba

Sioux Valley Dakota Nation working to identify, repatriate students buried near former Brandon residential school

Most Read