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From stuck to impounded: Suez Canal officials hold Ever Given in financial dispute with owners

Egypt Suez Canal Ever Given blocking
Posted at 11:08 PM, Apr 13, 2021
and last updated 2021-04-13 23:08:06-04

CAIRO (AP) — Egyptian authorities have impounded a massive cargo vessel that blocked the Suez Canal last month amid a financial dispute with its owner.

The Suez Canal chief says Monday the authority will not allow the hulking Ever Given to leave the country until a compensation amount is settled on with its Japanese owner, Shoei Kisen Kaisha Ltd.

A judicial official said the canal demanded at least $900 million in compensation.

The Panama-flagged ship that carries some $3.5 billion worth of cargo between Asia and Europe ran aground on March 23 in the canal.

Salvage teams freed it six days later, ending a crisis that had clogged one of the world’s most vital waterways.