Early Agreement Reached in Dispute Over Suez Canal Ship
upstart writes:
Early agreement reached in dispute over Suez Canal ship:
The owners and insurers of the giant container ship that blocked the Suez Canal for nearly a week earlier this year have reached an agreement in principle over their dispute with canal authorities, representatives from both sides said Wednesday.
Stann Marine, the lawyers representing the vessel's owners and insurers, and a spokeswoman for the Suez Canal Authority both confirmed.
[...] The money would cover the salvage operation, costs of stalled canal traffic, and lost transit fees for the week the Ever Given blocked the canal.
At first, the Suez Canal Authority demanded $916 million in compensation, which was later lowered to $550 million.
Since it was freed, the Panama-flagged vessel, which carries cargo between Asia and Europe, has been ordered by authorities to remain in a holding lake mid-canal as its owner and the canal authority try to settle the compensation dispute.
[...] The spokeswoman from the Suez Canal Authority's media office said that more details on the agreement would be released at a later time.
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