Dislodged Ship Held in Suez Canal as Talks Continue over $916 Million Claim

A ship that blocked the Suez Canal for almost a week in March is being held in the waterway as canal authorities pursue a $916 million compensation claim against the ship’s Japanese owner, one of the vessel’s insurers and canal sources said on Tuesday, Reuters reported. The Ever Given container ship, owned by Shoei Kisen, has been in a lake separating two sections of the canal since it was dislodged on March 29, as the Suez Canal Authority (SCA) conducts investigations. Two SCA sources, who declined to be named, told Reuters a court order had been issued for the ship to be held. Negotiations over the compensation claim were still taking place, according to one of the sources. UK Club, the protection & indemnity (P&I) insurer for the Ever Given, said the canal’s claim included $300 million for a “salvage bonus” and $300 million for “loss of reputation.” Read more.