The massive container ship, Ever Given, that blocked the Suez Canal for a week has been seized by Egypt. The Eqyptian courts say the cost of the nearly week-long blockage of the canal was approximatetly $900 million which has been disputed.
Egyptian courts demanded the ship’s owners to pay $900 million in damages as a result of the losses incurred when the Ever Given stopped the flow of ships through the canal, impairing the global supply chain during the attempts to free the vessel. The damages are said to include lost revenue and the rescue efforts.
The owner of the Ever Given has already filed suit against operator Evergreen to limit damages.