Update: Egypt Seizes Container Ship that Blocked Suez, Pending $916M Compensation By Tarek El-Tablawy and Alex Longley | April 13, 2021
Egypt seized a giant container vessel that blocked the Suez Canal last month as it sought compensation of more than $900 million.
A court in the city of Ismailia granted a seizure request regarding the Ever Given vessel at the behest of the Suez Canal Authority, state-run Ahram Gate reported on its website.
Egypt’s move underscores the legal complications following the container vessel’s grounding on March 23, which closed the canal for almost a week and roiled shipping markets. Logjams are expected to continue in the coming weeks at major ports such as Singapore and Rotterdam because of disruptions to schedules, according to supply-chain data provider project44.