John Bacon, 01 April 2021
The cost of blocking shipping for almost a week through one of the most crucial waterways on earth apparently comes in at right around $1 billion.
And that’s just the bill Egypt could soon be trying to collect. It does not include damages for the owners of more than 400 boats delayed by the calamity on the Suez Canal, nor compensation that could be sought by companies whose materials or products were on those boats.
Lt. Gen. Ossama Rabei, head of Suez Canal Authority, told Egypt’s Sada ElBalad news that Egypt will likely seek $1 billion in compensation for physical and financial damages resulting from the grounding of the massive cargo ship Ever Given. Rabei said the compensation would cover losses from transit fees, the cost of six days of dredging and tugboat activity – and damage to the canal from the dredging.
“This is the right of the country,” Rabie said. “It should get its due.”
Rabei said the ship’s captain has yet to respond to several demands by the canal authority, including surrender of the black box and documents sought for the investigation.
Grounded cargo ship Ever Given freed in Suez Canal: ‘We pulled it off!’
Ever Given will not be allowed to continue on it journey to the Dutch city of Rotterdam until the probe is completed, Rabei added.