The Ever Given container ship stole headlines in early March after blocking Egypt’s Suez Canal for nearly a week, a move that severely disrupted global trade. Although the Panamanian-flagged vessel was eventually freed from the single-lane stretch of the canal, its troubles were far from over as affected parties sought compensation for the setback.
The troubled Ever Given officially departed Egyptian waters early Tuesday after the vessel underwent an inspection by officials at the Suez Canal, marking the end to the ship’s monthslong stay in the area.
Citing a canal source familiar with the development, Reuters reported that the Ever Given officially departed Egyptian waters at roughly 4 a.m. local time after its inspection at Port Said.
FILE PHOTO: Ever Given, one of the world’s largest container ships, sets sail to leave through Suez Canal after the canal authority reached a settlement with the vessel’s owner and insurers, in Ismailia, Egypt, July 7, 2021.
The Ever Given was initially cleared to depart the canal’s Great Bitter Lake on July 7 after the ship’s owner, Shoei Kisen Kaisha Ltd., managed to reach a financial settlement with canal authorities. Both parties had previously been involved in weeks’ worth of back-and-forth negotiations.
At the time, Lt. Gen. Ossama Rabei, who serves as the head of the Suez Canal, commented that the settlement “achieved justice and prioritized both parties’ interests.” He further underscored that the agreement “ended a crisis that lasted for more than three months.”
It’s expected that the received funds will be geared toward the costs associated with the stalled canal traffic, lost transit fees and overall charges tied to the salvage operation.
Financial Hardships Far From Over
While the owners of the Ever Given were able to come to terms with the Suez Canal Authority, it’s unlikely to be smooth sailing from here on out, especially amid growing concerns that a bevy of lawsuits are incoming from businesses that were hurt by the unintended March blockade.
Bloomberg reported that the court’s approval will allow for overlapping claims to be grouped together, a move that could help lessen legal costs. However, as the current situation is still fluid, officials are expected to reconvene in a UK court in two months’ time to address emerging claims filed against the companies.
As a multitude of officials brainstormed how best to free the Ever Given, the canal blockage forced many ships to either sit idly, whereas others opted to take a much longer alternative route around the Cape of Good Hope. However, the alternative option came at a higher cost, with companies having to dish out additional funds to cover new expenses, such as increased fuel.
Sourse: sputniknews.com
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