{"id":562423,"date":"2021-05-24T03:36:19","date_gmt":"2021-05-24T03:36:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/how-low-can-we-go\/"},"modified":"2021-05-24T03:36:19","modified_gmt":"2021-05-24T03:36:19","slug":"how-low-can-we-go","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/how-low-can-we-go\/","title":{"rendered":"How low can we go?"},"content":{"rendered":"

<\/a> SCA cuts its Ever Given compensation demand \u2014 again:<\/strong> The Suez Canal Authority (SCA) has again downgraded its compensation demands for the Ever Given\u2019s blockage of the Suez Canal, saying it\u2019s now looking for USD 550 mn, SCA boss Osama Rabie told Al Hayah Al Youm\u2019s Mohamed Sherdy yesterday (watch, runtime: 7:55<\/a>). The SCA had initially set its compensation request at USD 916 mn<\/a>, but Rabie says this was a \u201cpreliminary\u201d figure before the authority accurately crunched the numbers and determined the value of the cargo that is on board the mega vessel. The SCA decided has slashed its demand so that it doesn\u2019t exceed the value of the cargo on board as a gesture of goodwill, Rabie told El Hekaya\u2019s Amr Adib (watch, runtime: 11:20<\/a>). Rabie had told Adib earlier this month<\/a> that the SCA had revised its claim to USD 600 mn.<\/p>\n

An initial USD 200 mn down payment could see the SCA release the ship from the Great Bitter Lake<\/strong>, where it is currently being held, if the ship\u2019s owner gets an LG from an Egyptian bank for the rest of the amount, Rabie told Adib.<\/p>\n

The counter offer:<\/strong> Shoei Kisen, the ship\u2019s owner, has offered to pay USD 150 mn instead of USD 550 mn, Rabie told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (watch, runtime: 15:33<\/a>).<\/p>\n

What is the SCA asking compensation for?<\/strong> The compensation package includes the cost of repairing the canal\u2019s bank where the mega vessel was lodged and had to be dug out, as well as for dredgers that the SCA put to work around the clock and are now out of commission because of the Ever Given saga. The SCA is also asking Shoei Kisen to compensate the authority for a tugboat that sank during the operation, which resulted in the death of a member of the team working on digging out the Ever Given, according to a statement<\/a>. In addition to covering compensation for the canal\u2019s workers, divers, command center operators, and other employees for working overtime to resolve the blockage, the price tag also covers the canal\u2019s lost revenues during the closure, estimated at around USD 90 mn<\/a>.<\/p>\n

Operation Pass the Buck continues:<\/strong> The Ever Given\u2019s grounding in the canal is the responsibility of the ship\u2019s captain and not of the two SCA pilots who were on board the vessel, Rabie insisted. The SCA boss also said that the choice of whether or not to enter the waterway was ultimately captain\u2019s to make, since the pilots only fulfill an advisory role. Shoei Kisen\u2019s lawyers argued at a court hearing over the weekend<\/a> that the SCA was at fault for allowing the ship to enter the canal in the midst of a storm and without tugboats accompanying it through the route.<\/p>\n

The compensation claim is still making its way through the courts<\/strong>, with a hearing scheduled for 29 May, while the ship continues to be held in the Great Bitter Lake following the rejection of an appeal<\/a> by Shoei Kisen against its seizure.<\/p>\n","protected":false},"excerpt":{"rendered":"

SCA cuts its Ever Given compensation demand \u2014 again: The Suez Canal Authority (SCA) has again downgraded its compensation demands for the Ever Given\u2019s blockage of the Suez Canal, saying it\u2019s now looking for USD 550 mn, SCA boss Osama Rabie told Al Hayah Al Youm\u2019s Mohamed Sherdy yesterday (watch, runtime: 7:55). The SCA had […]<\/p>\n","protected":false},"author":1,"featured_media":562424,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8996],"tags":[72,134,7143,3936,7103,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-suez-canal","tag-enterpriseam","tag-ever-given","tag-osama-rabie","tag-shoei-kisen","tag-suez-canal","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"5294b4e3-f922-4ba7-b12a-5d7fc75f3bd0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/205.jpg","photo_position":"above","related_issue":[562415],"teaser":"","voice_url":""},"yoast_head":"\nHow low can we go? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/how-low-can-we-go\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How low can we go?\" \/>\n<meta property=\"og:description\" content=\"SCA cuts its Ever Given compensation demand \u2014 again: The Suez Canal Authority (SCA) has again downgraded its compensation demands for the Ever Given\u2019s blockage of the Suez Canal, saying it\u2019s now looking for USD 550 mn, SCA boss Osama Rabie told Al Hayah Al Youm\u2019s Mohamed Sherdy yesterday (watch, runtime: 7:55). 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We have both stories in detail in this morning\u2019s news well, above.Meanwhile, it looks like the Suez Canal Authority (SCA) just downgraded its Ever Given compensation demands by a third\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561294,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/01\/and-now-we-investigate\/","url_meta":{"origin":562423,"position":1},"title":"And now, we investigate","author":"enterpriseam admin","date":"1 April 2021","format":false,"excerpt":"The Suez Canal Authority\u2019s (SCA) investigation into the Ever Given\u2019s grounding is now officially underway. Officials from the SCA will board the vessel today to begin their probe into the crew\u2019s actions in the moments leading to the ship running aground in the Suez Canal last week Sayed Sheaysha, a\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/11.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616411,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/sca-to-fully-fund-plan-to-expand-the-suez-canal-through-its-investment-budget\/","url_meta":{"origin":562423,"position":2},"title":"SCA to fully fund plan to expand the Suez Canal through its investment budget","author":"enterpriseam admin","date":"5 March 2024","format":false,"excerpt":"The authority will carry out studies for the project over the next 16 months","rel":"","context":"In "Logistics"","block_context":{"text":"Logistics","link":"https:\/\/enterpriseam.com\/egypt\/category\/logistics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/313.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616414,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/osama-rabie-takes-to-airwaves-to-promote-suez-canal-widening-plans\/","url_meta":{"origin":562423,"position":3},"title":"Osama Rabie takes to airwaves to promote Suez Canal widening plans","author":"enterpriseam admin","date":"5 March 2024","format":false,"excerpt":"\"The tree that bears fruit will be stoned,\" Rabie said in response to criticism of the project","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/348.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561438,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/we-could-be-seeing-expansion-work-done-on-the-suez-canal\/","url_meta":{"origin":562423,"position":4},"title":"We could be seeing expansion work done on the Suez Canal","author":"enterpriseam admin","date":"7 April 2021","format":false,"excerpt":"The Suez Canal Authority (SCA) is considering an expansion of the Southern section of the waterway where MV Ever Given became lodged late last month, SCA chairman Osama Rabie told Reuters. Acquiring new cranes that could vertically offload cargo from up to 52 metres is also on the authority\u2019s radar,\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561579,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/13\/the-ever-givens-freedom-now-has-a-price-usd-900-mn\/","url_meta":{"origin":562423,"position":5},"title":"The Ever Given\u2019s freedom now has a price: USD 900 mn.","author":"enterpriseam admin","date":"13 April 2021","format":false,"excerpt":"Egypt names its price for the Ever Given: The Suez Canal Authority has demanded the owner of the Ever Given container ship that blocked the canal last month pay USD 900 mn in compensation \u2014 and has obtained a court order to seize the ship until it receives payment, Al\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/130.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562423"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562423\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562424"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562423"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562423"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}