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Suez Canal Authority Seeks $200m Deposit to Free Ever Given


The operator of the Suez Canal has agreed to free the impounded Ever Given upon receipt of a $200m deposit from the vessel’s owner, Shoei Kisen.

The 400m container ship, which became grounded and blocked the trade route for six day, has been confined to the Bitter Lakes holding area by the Suez Canal Authority (SCA) since it was successfully freed from the banks of the canal in late March.

The SCA is pursuing a compensation claim against Shoei Kisen, the vessel’s owner, before it is freed. The SCA says the funds will be used to recoup the costs of rescuing the vessel – including bonuses for the cadre of international excavators and dredging teams – repair the canal’s damaged banks, and to cover a “loss of reputation”.

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