Egypt seizes MV Ever Given the giant cargo ship which had been stranded in the Suez Canal for days blocking the traffic in the vital global trade waterway. The action was taken because the Japanese owner Shoei Kisen Kaisha did not comply with the court order to pay Rs. 6757 crore (US $ 900 million) in compensation for blocking the traffic.
Suez Canal Authority (SCA) Chief Osama Rabie told the state-run newspaper Al-Ahram that the compensation amount was calculated on the basis of the losses incurred by the grounded vessel as well as the flotation and maintenance costs, according to a court ruling handed down by the Ismailia Economic Court.
The canal authorities had informed the court that the ship would be detained until the full amount was paid, in accordance with Egyptian Maritime law. According to canal authorities, the revenue lost during the time that the Ever Given was stuck amounted to $12-$15 million a day.
The Ever Given ran aground on March 23 blocking the vital route trade between Europe and Asia. An international salvage operation helped refloat the Ever Given after 6 days on March 29. It was moved to the nearby Great Bitter Lake for inspection and repair works.
More than 400 ships were blocked from passing through the busy shipping route. It took several days for these ships to pass through the canal even after the Ever Given was dislodged and moved out of the path..
The Ever Given is a Japanese-owned, Taiwanese-operated, and Panama-flagged vessel.
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