While the Ever Given was freed on March 29 after blocking the Suez Canal for six days, it remains in Egypt seized by authorities. The Suez Canal Authority (SCA) is holding the ship and demanding the owner pay $900 million to cover lost revenue, damage to the canal and the cost of the rescue mission to free the ship from blocking the vital trade route. As an agreement has yet to be reached, an Egyptian court recently ruled that the SCA has a right to detain the ship until the compensation is paid.
At this stage, it is not known when an agreement will be reached and when the Ever Given will proceed to Rotterdam, Netherlands. Due to the delay, it’s now expected that cargo owners will claim losses on their perishable goods.
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