Suez Canal Authority Seeks $1 Billion In Compensation For Ever Given Crisis
Suez Canal Authority Seeks $1 Billion In Compensation For Ever Given Crisis
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HELIOPOLIS, Egypt The Suez Canal Authority said that they plan on seeking $1 billion in compensation after the Ever Given ran aground and stopped all operations for nearly a week.
The news was announced by the chief executive officer of the Suez Canal Authority, Osama Rabie, in a conversation with local media on March 31.
“We plan to ask for $1 billion in compensation after the 400-meter cargo ship Ever Given, owned by Japanese company Shoei Kisen Kaisha, ran aground on March 23,” he said. “The compensation sum includes the costs of the salvage operation, transit fees that were lost, and the costs associated with stopping all traffic in the canal.”
8 April 2021, 7:21 AM | The Conversation | @SABCNews
Image: Creative CommonsThe Suez Canal made headlines when a massive container ship, “Ever Given”, became wedged diagonally across the canal, creating a huge, expensive backlog of other vessels
For a little over a week the world’s attention zeroed in on the Suez Canal, an artificial channel connecting the Mediterranean and the Red seas across Egyptian territory. The canal offers the shortest sea route between Europe and Asia, funnelling around 10% of global trade. And so it made the headlines when a massive container ship, “Ever Given”, became wedged diagonally across the canal, creating a huge, expensive backlog of other vessels.
The delicate, strategic position of Suez Canal
Friday April 09 2021
This handout satellite image courtesy of Cnes 2021 released on March 25, 2021 by Airbus DS shows the Taiwan-owned MV Ever Given (Evergreen) container ship, wedged diagonally across the canal, strangling world supply chains and costing the global economy billions. PHOTO | AFP
By DOUGLAS KIEREINI
Summary
The Suez Canal is a man-made waterway connecting the Mediterranean Sea to the Indian Ocean via the Red Sea.
It enables a more direct route for shipping between Europe and Asia, and the East coast of Africa, effectively allowing passage from the North Atlantic without having to circumnavigate the African continent.
For a little over a week the world’s attention zeroed in on the Suez Canal, an artificial channel connecting the Mediterranean and the Red seas across Egyptian territory. The canal offers the shortest sea route between Europe and Asia, funnelling around 10% of global trade. And so it made the headlines when a massive container ship, “Ever Given”, became wedged diagonally across the canal, creating a huge, expensive backlog of other vessels.
I am a social and cultural historian who has studied the region and the people who live there. While the economic benefits of the canal are readily apparent, its history of technical mishaps and failed ambitions is mostly buried.
I am a social and cultural historian of the modern Middle East, with a particular focus on nineteenth and early-twentieth-century Egypt. My research and teaching explore transnational processes and questions of state governance in provincial settings, empire, and the mobility of people, ideas, and goods.
I am currently working on a manuscript titled Seeking Bread and Fortune in Port Said, 1859-1906: Labor Mobility and the Making of the Suez Canal. In this book, embracing labor migrants who followed domestic as well as international routes, I trace the social and cultural history of the Suez Canal region. I pay particular attention to the different kinds of mobility and circulation that both traversed and wound up in Port Said and the Isthmus of Suez. My future research will take two directions. One is the social history of public health and medicine in the Suez Isthmus region in the turn of the twentieth century. The other is an exploration of migrants correspondence, with par