Egypt Still Discussing Suez Ship Ever Given’s Rescue Compensation

Egypt is still in talks about compensation stemming from the operations to free the giant container ship whose stranding in the Suez Canal for nearly a week roiled global cargo markets, the canal authority’s chief said Monday.

It’s likely that insurance companies will cover most of the amount associated with the efforts to free the 400-meter-long Ever Given, Osama Rabie said in an interview with Bloomberg. He didn’t specify the amount Egypt is seeking, but Rabie has said before the figure could be in the range of $1 billion.

Rabie, speaking in a news conference, also said that he expects the investigation into why the ship got stuck at the entrance of the canal will be completed by the end of the week.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.