The route connecting Europe to Asia was jammed after a two-million-tonne MV Evergivan ship was trapped in the Suez Canal.
Evergivan ship trapped in Suez Canal (File Photo)
Egypt has taken possession of the Evergiven ship (Ever Given Vessel) that jammed the Suez Canal last month. This has been done after a dispute over financial payments on behalf of the Egyptian authorities. The country’s court asked the Japanese owner of the ship Shuai Kisen Kaish to pay $ 900 million (about Rs 6,700 crore). This order has been given by the court because the sea traffic was affected due to the Evergivan ship and there was a loss of billions of rupees.
The road connecting Europe to Asia was jammed after MV Evergivan weighing over two lakh tonnes was trapped in the Suez Canal. On March 23, after the ship got stuck, Egyptian authorities pulled it out after a major operation in six days. Marine data company Lloyd List said that every day $ 9.6 billion worth of goods was stuck between Europe and Asia due to the blockage of the ship. How big this ship was, it can be estimated that its length was equal to four football fields.
Egypt lost $ 15 million every day due to shipwreck
According to Suez Canal officials, Egypt was suffering between $ 12 and 15 million a day due to the Evergivan shipwreck. According to Egypt’s Al-Ahram newspaper, Osama Rabi, the head of the Suez Canal Authority, said the MV Evergivan ship was seized due to non-payment of compensation of $ 900 million. However, Rabi did not explicitly provide information on the owner of the ship, Shuai Kisen Raish, for interference in the matter. But sources said that negotiations are going on between the company, the insurance firm and the Suez Canal Authority for compensation.
The amount of compensation so fixed
The Japanese-owned, Taiwan-operated and Panama-flagged vessel was able to take off from the Suez Canal on 29 March. After this, 420 ships stranded on the northern and southern sides of the canal found their way to go. Rabi said that the amount of compensation has been fixed by adding the daily loss due to the stuck ship and the money spent in the repair work. It has been told that the Suez Canal has suffered a lot due to the ship getting trapped in the canal and then trying to take it out. Egypt gained $ 5.7 billion from the Suez Canal in the 2019-2020 fiscal year.
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