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From stuck to impounded: Suez Canal officials hold Ever Given in financial dispute with owners

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AP

In this photo released by the Suez Canal Authority, a cargo ship, named the Ever Given, sits with its bow stuck into the wall Wednesday, March 24, 2021, after it turned sideways in Egypt’s Suez Canal, blocking traffic in a crucial East-West waterway for global shipping. An Egyptian official warned Wednesday it could take at least two days to clear the ship. (Suez Canal Authority via AP)

Egypt Suez Canal Ever Given blocking

Posted at 10:08 PM, Apr 13, 2021

and last updated 2021-04-13 23:08:06-04

CAIRO (AP) — Egyptian authorities have impounded a massive cargo vessel that blocked the Suez Canal last month amid a financial dispute with its owner.

The Suez Canal chief says Monday the authority will not allow the hulking Ever Given to leave the country until a compensation amount is settled on with its Japanese owner, Shoei Kisen Kaisha Ltd.

A judicial official said the canal demanded at least $900 million in compensation.

The Panama-flagged ship that carries some $3.5 billion worth of cargo between Asia and Europe ran aground on March 23 in the canal.

Salvage teems freed it six days later, ending a crisis that had clogged one of the world’s most vital waterways.

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