FOLLOW US

Business April 3, 2021 3 mins read

Egypt Could Ask Up to $1 Billion in Damages for the Ever Given Blockage of the Suez Canal

Business ı By Rochdi Rais

0 Comments

Ever Given ship Blcoked in the Suez Canal

The Egyptian authorities could ask up to $1 billion in damages for clearing the way to the Ever Given from the Suez Canal. The $1 billion price was calculated based on the canal revenue losses, the money spent on the manpower hours of the 800 rescuers, and the equipment and Machinery. It’s not clear yet who will pay for the bill.

 “We'll reach over a billion dollars in compensation,” Osama Rabie, the chairman and managing director of the state-owned Suez Canal Authority, told Egypt’s Sada El Balad channel on Wednesday evening. 

 “Egypt will ask for a fair amount,” Rabie said, according to a CNBC News translation, without specifying who might be liable to pay. 

“We saved them so much by rescuing the ship without any major damage or losses. The whole ship could’ve been lost,” he added. 

The 200,000 ton Ever Given mega-container carrier refloated on Monday. This followed some daunting efforts from the rescuers. The incident held more than $9 billion global trade a day. Additionally, over 422 vessels carrying goods such as crude oil were blocked for more than 6 days in the canal. 

Meanwhile, Egyptian authorities added that the blockage could have collateral damage on the supply chains across the world.

On the other hand, Rabie said he is hoping that Egyptians and other countries could reach a compensation agreement “in two or three days”. Otherwise, Egypt might hold the ship in the Great Bitter Lake, north of the Suez Canal

“We could agree on certain compensation, or it goes to court,” he said. “If they decide to go to court, then the ship should be held,” he warned. 

Egyptians are investigating the Ever Given incident

While everyone involved in the blockage is trying to clear themselves from the responsibility of the blockage. Over 800 rescuers said that the mission was extremely hard due to the size of the mega-container.

 “The most difficult thing was the fear,” Aly Awamy, a mechanic on the Mashhour dredger told NBC News in Egypt on Thursday. 

“We were working under something the size of a 10-story building that could have fallen on us.”

The Ever Given's way was cleared thanks to the efforts of the crew of the Mashhour. The crew's vessel shifting ability can reach 70,000 cubic feet of sand per hour.

 “It was very dangerous,” said Mashhour’s head dredger, Mohammed Sayed. “It was the first time in history that we used a dredger in floating a ship and freeing a grounded ship.” 

 “That was one of the hardest and biggest challenges,” he said. “Thank God, everything went well.”

In conclusion, Egyptian authorities said that they are still investigating the Suez Canal blockage. They said that everything was recorded and this will help on identifying the reasons behind the blockage.

 “There is a black box like the one in the planes that records everything,” Rabie said.

“Every word that was said about the machinery, every word about steering. Every word the captain or any others ... everything is recorded.”

Previous Article

Ethereum Reaches an All-Time High Price of $2,101, Closes at Four Green Daily Candles

Read More
2774 Posts

Rochdi Rais

Rochdi Rais is the Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

Discussion

No comments yet. Be the first to join the discussion!

Don’t Miss It
America October 30, 2026 Army Paid $533M for a Shell Plant That Failed to Deliver By – Michallie K Harrison
America October 30, 2026 Army Mass Graves Training: Who Are These Burials For? By – Michallie K Harrison
America October 29, 2026
Hippo Partners With Greenlight Re to…

Launching a new insurance program is a bit like building…

By – Rachel Moore
America October 29, 2026
Patrick Stewart Died at 86, Closing…

Some actors play a role. A rare few lend their…

By – Rachel Moore
America October 29, 2026
GM $220M Settlement Ends Multistate Probe…

A dashboard is supposed to tell you how fast you…

By – Rachel Moore
America October 29, 2026
Markel Enstar Unit Reinsurance Agreement Locks…

Old liabilities have a way of lingering like a long…

By – Rachel Moore
America October 29, 2026
Colorado Mountain Students Found Dead After…

Mountains in October can change their mood within hours, like…

By – Tyler Brooks
America October 29, 2026
DoorDash Acquire Instacart Bid Aims to…

When two of the biggest names in delivery decide to…

By – Tyler Brooks
America October 29, 2026
DHS Data Leak Exposes 40,000 Employees,…

Agencies that spend their days collecting other people’s information rarely…

By – Tyler Brooks
America October 29, 2026
Nvidia CEO Chinese Spy Report: Company…

Few stories combine Silicon Valley, the White House and Beijing…

By – Tyler Brooks
America October 29, 2026
Tennessee Killer Escapes; Police Cite Five-Hour…

TIPTONVILLE, Tenn. — A convicted murderer remained at large Thursday…

By – Michallie K Harrison
America October 29, 2026
Brewers Beat Rays to Win First…

ST. PETERSBURG, Fla. — The Milwaukee Brewers won their first…

By – Michallie K Harrison
America October 29, 2026
DHS Data Leak Exposes 41,000 Workers…

WASHINGTON — A newly published data trove has exposed records…

By – Michallie K Harrison
America October 28, 2026
Kroger $17M Settlement Claim: Shoppers Could…

Kroger has agreed to a $17 million class action settlement…

By – Tyler Brooks
America October 28, 2026
Reported FEC Cyberattack Disrupts Filings Before…

WASHINGTON — A reported cyberattack forced the Federal Election Commission…

By – Michallie K Harrison
America October 28, 2026
Pentagon Ketamine Contract: $41M Deal Under…

WASHINGTON — The Pentagon has awarded a Singapore-based pharmaceutical company…

By – Michallie K Harrison
America October 28, 2026
Flávio Bolsonaro in Florida: Visa Approved,…

MIAMI — Brazilian Sen. Flávio Bolsonaro arrived in Florida on…

By – Michallie K Harrison
America October 28, 2026
CDC Warns Drug-Resistant Germs Threaten Modern…

WASHINGTON — Drug-resistant germs are causing millions of infections and…

By – Michallie K Harrison
America October 27, 2026
Susan Saint James, Emmy-Winning Star of…

Susan Saint James, the Emmy-winning actress whose spirited performances in…

By – Jackie Allen
America October 27, 2026
Trump and Nicki Minaj Make a…

OPINION | Trump and Nicki Minaj turned a Michigan campaign…

By – Michallie K Harrison
America October 28, 2026
Michigan Double-Digit Health Insurance Hikes Set…

Michigan residents are facing another costly year for health coverage,…

By – Tyler Brooks
America October 28, 2026
Wendy’s $1.4B Takeover Proposal Puts Fast-Food…

A consortium of investors led by Trian Fund Management has…

By – Tyler Brooks
America October 28, 2026
Flight Attendant $25K Sweepstakes Scam: American…

An American Airlines flight attendant is facing multiple felony charges…

By – Rachel Moore
America October 28, 2026
NLRB Memphis Subregional Office Closure Shifts…

The National Labor Relations Board is closing its Memphis subregional…

By – Rachel Moore
America October 28, 2026
Spain Train Crash Kills at Least…

At least 68 people were killed Wednesday when a Spanish…

By – Rachel Moore
America October 28, 2026
Miyoko Plant Butter Recall Sparks Food…

A plant-based butter product distributed across 10 states is being…

By – Rachel Moore
America October 27, 2026
Walmart Great Value Fruit Cocktail Recall…

A canned fruit product sold at Walmart is under recall…

By – Rachel Moore
America October 25, 2026
Christina Applegate Reveals Multiple Sclerosis Misdiagnosis,…

LOS ANGELES — Christina Applegate, the Emmy-winning actor known for…

By – Jackie Allen
America October 23, 2026
Humana and UnitedHealthcare Cancel Medicare Advantage…

Nearly 1 million Americans are facing a shake-up in their…

By – Tyler Brooks
America October 23, 2026
Plutonium Pit Production Faces Safety and…

WASHINGTON — The Energy Department has approved full construction of…

By – Michallie K Harrison
America October 22, 2026
Pope Leo XIV Needs No Further…

VATICAN CITY — Pope Leo XIV will not require additional…

By – Jackie Allen
America October 21, 2026
News Overload Can Fuel Anxiety and…

News keeps people informed about wars, political conflict, public safety…

By – Jackie Allen
America October 23, 2026
Connor Hellebuyck Traded to New Jersey…

The New Jersey Devils have made a major move to…

By – Tyler Brooks
America October 19, 2026
Information Ecosystem: Five Tools to Detect…

The information ecosystem is increasingly vulnerable to misinformation. There are…

By – Jackie Allen
America October 19, 2026
An Airman Died After a Pregame…

By Michallie K. Harrison | Opinion Tech. Sgt. Ian Patterson’s…

By – Michallie K Harrison
America October 16, 2026
NFL Player $300M Hip Surgery Lawsuit…

Athletes bet their bodies on surgeons the way pilots bet…

By – Tyler Brooks
America October 16, 2026
Russian Drone Strikes Hit American Businesses…

Russian drone strikes against American-linked businesses in Ukraine are raising…

By – Jackie Allen
America October 11, 2026
AP Poll Top 25: Georgia Claims…

Georgia has reclaimed the top spot in the AP Poll…

By – Rachel Moore

No posts found.

No posts found.

Signup for the USA Herald
exclusive Newsletter