Suez Canal Authority Obtains Court Order to Seize Ever Given

2021 04 14

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Image courtesy Suez Canal Authority

The Suez Canal Authority has secured a formal court order to seize the container ship Ever Given for "failure to pay an amount of $ 900 million," the Egyptian government-owned news outlet Ahram Gate reported Tuesday. The SCA had previously announced its intention to hold the vessel until the outcome of negotiations with the owners over damage compensation from the ship's infamous six-day grounding. 

"The Suez Canal submitted a request to the Ismailia Economic Court to seize the ship, which was approved by the [court] and issued the seizure decision pending payment of compensation estimated at $900 million," the SCA told the outlet. 

The UK P&I Club has confirmed that Egypt has filed a claim for $916 million against the ship's owner, Shoei Kisen Kaisha. Shoei has also confirmed that a claim has been made, but has not provided additional details. 

According to the Wall Street Journal, the cost of the salvage operation is believed to be in the low seven figures. Refinitiv estimates the lost canal transit fees for the SCA at less than $100 million for the six-day shutdown. 

For now, the Ever Given - along with her 18,000 TEU worth of cargo and her 25 crewmembers - remains anchored in the Great Bitter Lake. She has been stranded by legal problems for far longer than she was stranded by the canal's banks, and the timeline for her release is unknown. 

The Suez Canal Authority's chairman, Lieutenant General Osama Rabie, told state media that he is quite certain that the fault for the grounding lies with the shipowner. "Of course, yes," he said, according to the AP. He added that the investigation into the cause of the grounding is nearly complete, and will likely finish on Thursday.



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The magazine JŪRA has been published since 1935.
International business magazine JŪRA MOPE SEA has been
published since 1999.

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