Court Cancels Claim Calling on Cairo to Cede Captured Canal-Clogging Container Carrier
Egypt’s Ismailia Economic Court on Sunday rejected an appeal by the Japanese owner of the ill-fated Ever Given, ordering the ultra-large cargo ship to remain in Egyptian custody until further notice. Since the vessel jammed into the Suez Canal wall due to strong winds and stopped traffic in both directions for almost a week in March, canal authorities have detained the mammoth ship, demanding compensation of nearly $1 billion dollars from owner Shoei Kisen. According to Cairo officials, the required reparations include the heavy cost of dislodging the vessel, material and reputational restitutions, and the lost revenue from the diversion of dozens of ships away from the busy passageway. The traffic jam caused by the Ever Given’s grounding on March 23 led to massive disruptions in global trade, and claimed the life of one worker whose boat sank during rescue operations.