NTSB: Poor Cargo Loading Procedures Led to Loss of Containers off Hawaii
Poor barge loading resulted in the loss of 21 cargo containers into the ocean off the coast of Hawaii last year, the National Transportation Safety Board said in its report...
By Tarek El-Tablawy (Bloomberg) — Egypt said it may seek around $1 billion in compensation after the giant containership Ever Given blocked the Suez Canal for almost a week and roiled shipping markets.
The figure is a rough estimate of losses linked to transit fees, damages incurred during the dredging and salvage efforts, the cost of the equipment, and labor, Suez Canal Authority chief executive Osama Rabie said late Wednesday to local television channel Sada Elbalad.
He did not specify who the Canal Authority would seek compensation from.
“This is the right of the country,” Rabie said, adding that the incident hurt Egypt’s reputation. “This country should get its due.”
Taiwan’s Evergreen Marine, the vessel’s charterer, said Thursday it’s not responsible for delays of any cargo it was transporting.
The ship and its cargo, which Rabie said were worth $3.5 billion, is currently in the Great Bitter Lake, roughly halfway along the canal.
Rabie said they could be held in Egypt if the matter of compensation went to court. Such a scenario is unlikely, he said, because Egypt has a long relationship with the ship owner.
Evergreen’s agent in Egypt, Mohamed Bahaa, said he doubted there would be any financial dispute between his company and the canal authorities.
“In 40 years now, not a single case of dispute has happened between SCA and Evergreen,” he said in an interview. “We all respect all the rules of the SCA.”
By Tarek El-Tablawy and Mirette Magdy © 2021 Bloomberg L.P.
Join the 67,767 members that receive our newsletter.
Have a news tip? Let us know.