CAIRO (Pakistan Point News / Sputnik - 11th May, 2021) The insurer of the Ever Given cargo ship, which ran aground in the Suez Canal, said on Monday that Egypt's reduced compensation claim was still exceptionally high.
UK Club said the Suez Canal Authority had not provided any evidence to the ship's owner, Shoei Kisen, in support of the $600 million bill for refloating the ship that blocked the waterway for six days.
The canal authority initially requested $916 million in compensation but its chief, Osama Rabie, said on Saturday that the body would slash that sum by more than a third.
The 400-meter-long container ship became wedged in one of the world's busiest trade routes in March, creating a backlog of vessels waiting to cross through the canal which connects the Red Sea to the Mediterranean.
The ship was eventually refloated and towed to the Great Bitter Lake where it remains under arrest. Shoei Kisen is seeking to cap the compensation at $115 million under the International Convention on Limitation of Liability.
