Cairo – Mubasher: Egypt has reduced its compensation demands for the Ever Given’s blockage of the Suez Canal to $550 million from an earlier demand of $916 million, the Suez Canal Authority’s (SCA) Chairman, Osama Rabie, was cited by the Middle East News Agency (MENA).
The current demand was determined after assessing the value of the cargo on board which amounts to $775 million, Rabie added.
The court has allowed the authority to continue the detention of the vessel and the compensation will be considered by another court on 29 May.
The compensation will cover the losses incurred by the authority due to the blockage of the canal for six days as well as the costs of dislodging the ship around the clock.
