{"id":563445,"date":"2021-07-04T04:00:17","date_gmt":"2021-07-04T04:00:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/04\/is-the-ever-given-dispute-finally-resolved\/"},"modified":"2021-07-04T04:00:17","modified_gmt":"2021-07-04T04:00:17","slug":"is-the-ever-given-dispute-finally-resolved","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/04\/is-the-ever-given-dispute-finally-resolved\/","title":{"rendered":"Is the Ever Given dispute finally resolved?"},"content":{"rendered":"

<\/a> The owner of the Ever Given has reportedly agreed to pay USD 540 mn in compensation to <\/strong>Egypt<\/strong> for the blockage of the Suez Canal just a few days before a legal showdown in an Egyptian court. Sources tell Al Arabiya<\/a> that Shoei Kisen and the ship\u2019s ins. companies including UK P&I Club have reached a preliminary agreement with the Suez Canal Authority (SCA) to settle the dispute, which has rumbled on for three months as the two sides traded accusations over who was to blame for the incident, which blocked the vital trade artery for six days in March. We reached out to officials from the SCA for comment, but they did not respond as of dispatch time.<\/p>\n

The two sides appear to have met in the middle:<\/strong> The SCA was originally looking for a USD<\/a>916 mn payout<\/a>, a demand dismissed by UK P&I Club and the other ins. companies, who were reportedly only willing to pay out USD 150 mn<\/a>.<\/p>\n

Throw in a tugboat for good measure: <\/strong>The agreement reportedly provides the SCA with a new state-of-the-art tugboat. It is unclear who will provide the SCA with the tugboat, or whether this is part of the USD 540 mn compensation. The agreement also stipulates that the SCA doesn\u2019t file a complaint against Ever Given\u2019s owners Shoei Kisen in the future.<\/p>\n

And that\u2019s the end of the matter, apparently: <\/strong>The ship \u2014 which has remained in the Bitter Lake since being seized by the SCA in April<\/a> \u2014 could now be released, with the SCA reportedly agreeing to allow the vessel to move unimpeded.<\/p>\n

The SCA is reportedly happy with the agreement:<\/strong> The SCA\u2019s legal committee had reviewed all the terms and approved them, the sources said, adding that the cabinet had also given the green light to the agreement.<\/p>\n

We should get some clarity today:<\/strong> News of the agreement comes as the Ismailia Economic Court is due to resume hearings on compensation today.<\/p>\n","protected":false},"excerpt":{"rendered":"

The owner of the Ever Given has reportedly agreed to pay USD 540 mn in compensation to Egypt for the blockage of the Suez Canal just a few days before a legal showdown in an Egyptian court. Sources tell Al Arabiya that Shoei Kisen and the ship\u2019s ins. companies including UK P&I Club have reached […]<\/p>\n","protected":false},"author":1,"featured_media":563446,"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":[8678],"tags":[957,72,134,7103,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dispute-watch","tag-dispute-watch","tag-enterpriseam","tag-ever-given","tag-suez-canal","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"7338a482-1d8a-4ede-8eb7-7ff758f0fae2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/17.jpg","photo_position":"above","related_issue":[563437],"teaser":"","voice_url":""},"yoast_head":"\nIs the Ever Given dispute finally resolved? - 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\/07\/04\/is-the-ever-given-dispute-finally-resolved\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is the Ever Given dispute finally resolved?\" \/>\n<meta property=\"og:description\" content=\"The owner of the Ever Given has reportedly agreed to pay USD 540 mn in compensation to Egypt for the blockage of the Suez Canal just a few days before a legal showdown in an Egyptian court. 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The SCA said that a signing ceremony will be held on\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\/7\/30.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561946,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/27\/potential-compromise-to-end-ever-given-dispute\/","url_meta":{"origin":563445,"position":1},"title":"Potential compromise to end Ever Given dispute?","author":"enterpriseam admin","date":"27 April 2021","format":false,"excerpt":"The Suez Canal Authority seems to be signalling it wants to strike an agreement to set the Ever Given free. The Suez Canal Authority (SCA) will offer \u201cgreat\u201d considerations to the owner of the Ever Given mega container ship that blocked the Suez Canal in March to ensure talks to\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\/282.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562759,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/ever-given-blame-game-continues\/","url_meta":{"origin":563445,"position":2},"title":"Ever Given blame game continues...","author":"enterpriseam admin","date":"6 June 2021","format":false,"excerpt":"A solution to the Ever Given dispute seemed further away than ever over the weekend as the Suez Canal Authority and the ship\u2019s insurer traded public accusations over who was responsible for the six-day blockage of the canal.We seemed to be getting somewhere last month when the SCA agreed to\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\/6\/73.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562608,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/a-solution-to-the-ever-given-spat-could-be-found-within-a-week\/","url_meta":{"origin":563445,"position":3},"title":"A solution to the Ever Given spat could be found within a week","author":"enterpriseam admin","date":"31 May 2021","format":false,"excerpt":"An imminent breakthrough in Ever Given talks? A breakthrough in settlement talks between the Suez Canal Authority (SCA) and the owners of the Ever Given container ship might be coming \u201cin the coming days or week,\u201d Khaled Abu Bakr, an advisor to the SCA chairman, said at a presser yesterday,\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\/5\/280.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566507,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/23\/ever-given-resolution-in-the-foreseeable-future\/","url_meta":{"origin":563445,"position":4},"title":"Ever Given resolution in the foreseeable future?","author":"enterpriseam admin","date":"23 June 2021","format":false,"excerpt":"Lawyers representing the Ever Given\u2019s owner and ins. company have reached an agreement in principle with the Suez Canal Authority (SCA) over compensation claims, Al Masry Al Youm reports. The ship\u2019s ins. provider, UK P&I Club, said earlier this month that it was engaged in \u201cserious and constructive negotiations\u201d with\u2026","rel":"","context":"In "SPEED ROUND: SUEZ CANAL"","block_context":{"text":"SPEED ROUND: SUEZ CANAL","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/569.jpg?fit=%2C&ssl=1&resize=350%2C200","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":563445,"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\/563445","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=563445"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563445\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563446"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563445"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563445"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}