Egyptian Court to rule on Ever Given Suez Canal Blockage, Sunday

An Egyptian court will make a decision on Sunday about a claim by Egypt’s Suez Canal Authority against the owner of the massive container ship that blocked the vital waterway for almost a week in March.

The 400-meter-long Ever Given is owned by Japan’s Shoei Kisen Kaisha Ltd. and was chartered by Taiwan’s Evergreen Line when it got stuck in the southern end of the waterway for six days, roiling shipping markets.

The Suez Canal Authority wants compensation to cover the loss of transit fees, damage to the waterway during the dredging and salvage efforts, and the cost of equipment and labor.

The operator’s lawsuit argued it should receive $916 million in compensation, though the company’s chairman said it would accept $600 million. The ship’s insurers have said that amount is still too much.

The Egyptian court will also issue a ruling on Sunday about an appeal by the owners of the ship against a May 4 decision that upheld an order preventing the giant container ship from leaving the country. The Ever Given is currently anchored in the Suez Canal.

Bloomberg/Hauwa Abu