Shoei

Regional News • Middle East
Egypt seizes Ever Given ship in Suez Canal, demands $900 million in compensation
Ever Given ship
Ever Given ship Credit: kees torn, via Wikimedia Commons (Creative Commons Attribution 2.0)

An Egyptian court ordered the vessel's Japanese owner, Shoei Kisen Kaisha, to pay $900 million in compensation due to losses inflicted when the Panamanian-flagged Ever Given prevented marine traffic from transiting through the vital global trade waterway.

Shoei Kisen Kaisha said insurance companies and lawyers were working on the compensation claim and refused to comment further.

UK Club, the protection and indemnity insurer for the Ever Given, said Tuesday that they had responded to a claim from the Suez Canal Authority for $916 million and questioned its basis.