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
2773 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 23, 2026 Lawyers Could Collect $1.27 Billion in Meta Privacy Case By – Michallie K Harrison
America October 23, 2026 Plutonium Pit Production Faces Safety and Cost Questions 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 22, 2026
Six Women Testify in Russell Brand…

LONDON — Six women have testified in the Russell Brand…

By – Michallie K Harrison
America October 22, 2026
Websites Go Dark as AI Uncovers…

The PHP security crisis has pushed government websites offline and…

By – Michallie K Harrison
America October 21, 2026
El Nino Could Reach Historic Strength,…

GENEVA — El Nino, a powerful climate pattern that warms…

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 21, 2026
Atlanta Rapper Indicted in Alleged $4.6…

ATLANTA — Shawtey Dred, the social media persona of Atlanta…

By – Jackie Allen
America October 21, 2026
Intuitive Surgical $450M Settlement Targets Da…

Intuitive Surgical has agreed to pay $450 million to resolve…

By – Tyler Brooks
America October 21, 2026
Getty Images Files Chapter 11 With…

Getty Images Holdings Inc., the visual content giant behind millions…

By – Tyler Brooks
America October 21, 2026
Meta Stock in Focus as Earnings,…

Meta delivered a powerful revenue performance in its third-quarter earnings…

By – Tyler Brooks
America October 21, 2026
Pantheon $6B Secondaries Fund Marks Firm’s…

Private markets investor Pantheon has secured $6 billion in capital…

By – Rachel Moore
America October 21, 2026
Spartanburg Woman $8K Insurance Fraud Case…

A South Carolina woman is behind bars after investigators accused…

By – Rachel Moore
America October 21, 2026
TDI Launches Insurance Fraud Task Force…

The Texas Department of Insurance has launched a coordinated push…

By – Rachel Moore
America October 21, 2026
Musk and Trump Have a Starlink…

Opinion | Starlink restrictions in Ukraine have exposed a problem Elon Musk…

By – Michallie K Harrison
America October 21, 2026
Texas Trans Texts Spark Election Propaganda…

News Analysis | Texas voters began casting early ballots Monday,…

By – Michallie K Harrison
America October 20, 2026
California Ballots: DOJ Cites Charges Against…

WASHINGTON — The Justice Department is citing charges against 28…

By – Michallie K Harrison
America October 20, 2026
Richard Riehle Dies at 78, Leaving…

Richard Riehle, the character actor whose memorable roles included “Office…

By – Michallie K Harrison
America October 20, 2026
Extreme Heat Is Spreading and Lasting…

An extreme heat event lasting 367 days touched nearly 85%…

By – Michallie K Harrison
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 21, 2026
Children’s Mercy Insurance Coverage Changes: Kansas…

Children’s Mercy Hospital in Kansas City will no longer participate…

By – Rachel Moore
America October 21, 2026
BioWare Closing: EA Shuts Down Legendary…

Electronic Arts is reshaping its videogame empire in a sweeping…

By – Rachel Moore
America October 20, 2026
Auto-Owners Insurers Verdict: Jury Awards Warehouse…

A North Carolina federal jury has awarded nearly $2 million…

By – Tyler Brooks
America October 20, 2026
NJ $10M Car Insurance Fine: Geico…

New Jersey insurance regulators have accused Geico of overcharging motorists…

By – Tyler Brooks
America October 20, 2026
Ara Partners $2.5B Energy Fund Reaches…

Ara Partners has secured $2.5 billion in capital commitments for…

By – Tyler Brooks
America October 20, 2026
Burger King Hello Kitty Meal Arrives…

Few pairings feel as inevitable as a kids’ meal and…

By – Rachel Moore
America October 16, 2026
HealthSplash VP 18 Months Sentencing Rewards…

Cooperation can shave years off a prison term, but it…

By – Tyler Brooks
America October 16, 2026
Daylight Saving Time Returns Nov. 1…

Americans will turn their clocks back one hour on Nov.…

By – Jackie Allen
America October 16, 2026
California Identifies New York Life, Aetna,…

Key Takeaways   California’s Department of Insurance maintains an official…

By – Samuel Lopez
America October 16, 2026
Three Children, Teacher Killed in Oregon…

BEND, Ore. — An Oregon school shooting killed three children…

By – Michallie K Harrison
America October 15, 2026
Trump Scraps Hegseth’s Execution Livestream After…

WASHINGTON — President Donald Trump canceled the planned execution livestream…

By – Michallie K Harrison
America October 13, 2026
Pope Leo XIV’s Surgery Exposes Gap…

By Samuel López | USA Herald VATICAN CITY — As…

By – Samuel Lopez
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
America October 10, 2026
A.J. Armstrong: Former NFL Player’s Son…

 HOUSTON — Antonio “A.J.” Armstrong Jr., the son of former…

By – Jackie Allen
America October 9, 2026
NFL Pro Tyreek Hill Takes the…

What the Jury Is Hearing Lakeeta “Keeta” Vaccaro Hill testified…

By – Samuel Lopez

No posts found.

No posts found.

Signup for the USA Herald
exclusive Newsletter