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Egypt impounds Suez megaship, demands $900 million compensation

Lt. Gen. Osama Rabie said the hulking Ever Given would not be allowed to leave the country until a compensation amount is settled on with the vessel's Japanese owner, Shoei Kisen Kaisha Ltd.

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Aerial view of the Ever Given ship blocking the Suez Canal. File Pic

Aerial view of the Ever Given ship blocking the Suez Canal. File Pic

Egyptian authorities impounded a massive cargo vessel that blocked the Suez Canal last month amid a financial dispute with its owner, the canal chief and a judicial official said Tuesday. Lt. Gen. Osama Rabie said the hulking Ever Given would not be allowed to leave the country until a compensation amount is settled on with the vessel's Japanese owner, Shoei Kisen Kaisha Ltd.

"The vessel is now officially impounded," he told Egypt's state-run television late Monday. "They do not want to pay anything." There was no immediate comment from the vessel's owner. Rabei did not say how much money the canal authority was seeking. However, a judicial official said it demanded at least $900 million. The state-run Ahram daily also reported the $900 million figure.

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