Egypt has confiscated the container ship Ever Given. With this, the country wants to enforce the payment of 900 million dollars in compensation. Egypt has lost money on the salvage operation of the ship that ran aground in the Suez Canal last month. The Suez Canal also lost revenue because no ships could pass through the canal while the Ever Given was stuck.
The Ever Given was stuck in the Suez Canal for almost a week. This is one of the most important waterways in the world and about one eighth of the world’s trade in goods passes through the 193-kilometre-long waterway between the Red Sea and the Mediterranean. Normally, almost ten billion dollars’ worth of goods pass through the canal every day.
The week-long blockage caused long queues of ships on both sides of the canal. More than 350 ships had to wait before they could pass. Some of the ships that were on their way from Asia to Europe decided to sail around Africa.
Also read: Huge container ship blocks Suez Canal
Picture by the Suez Canal Authority.