Not so fast, Ever Given!
The massive container ship that blocked the Suez Canal for nearly a week last month may be unstuck, but it isn’t getting off scot-free – in fact, it isn’t going anywhere until a massive compensatory fee is paid.
Egypt is demanding the massive payment, which could be as much as $1 billion, as local authorities investigate how the ship got caught in canal, shutting down a key waterway, according to the Wall Street Journal.
“The vessel will remain here until investigations are complete and compensation is paid,” Osama Rabie, chairman of the Suez Canal Authority, told state television in Egypt on Thursday.
“We hope for a speedy agreement. The minute they agree to compensation, the vessel will be allowed to move.”
The accident caused “chaos in the highly trafficked waterway, blocking $9 billion each day in global trade and (put) more stress on supply chains already stretched thin during the coronavirus pandemic,” The Post previously reported.