Between March 23 and 29, 2021, the Suez Canal was blocked due to the grounding of the container ship Ever Given. Faced with this situation, which has cost the world economy hundreds of millions of dollars, the government has embarked on a policy of improving the capacity of the canal.
The Suez Canal Authority (SCA) will seek more than $ 1 billion in compensation for the inconvenience caused by the Ever Given sinking into the Suez Canal. The president of the institution, Osama Rabie (pictured), announced during a televised intervention on Wednesday, March 31, 2021.
According to the official whose comments were relayed by several local media, the amount of compensation will take into account the losses suffered by the channel due to the blockage of traffic, but also the costs incurred to free the ship. He said it is “a right of the state and we will not give it up.”
Recall that during the 6 days of blockade of the Suez Canal, Egypt has according to the SCA, recorded between 12 million and 15 million $ of daily losses. In fact, a total of 422 ships were stranded. In addition, the work to free the Ever Given involved nearly 800 people and 15 giant tugs.
Source Ecofin Agency