Egypt to launch ship that blocked the Suez Canal as soon as compensation agreement is reached

Egypt will release the giant container ship that blocked the Suez Canal for almost a week as soon as a deal is reached on compensation for related losses, said the channel’s chief of authority.

“The ship is ready,” said Osama Rabie in an interview with Egyptian television. As soon as “we reach an agreement on compensation, the ship leaves and the matter is closed”.

Suez Canal officials say that the backlog of ships has already ended (2)

Ever Given blocked the channel for six days, shaking global markets and costing the Suez Canal Authority $ 15 million a day in lost revenue, according to its calculations. Rabie said that Egypt wants compensation for losses, as well as the cost of releasing the vessel.

The ship and its cargo are currently in the Great Bitter Lake, approximately halfway along the channel.