Suez Canal Authority slashes Ever Given compensation claims by $300m

The Suez Canal Authority has slashed its Ever Given compensation claims by nearly a third. The Egyptian body is now seeking $600m rather than $916m as negotiations stretch into another week to get the 400 m long vessel freed and able to get to its European destinations, seven weeks after it grounded, blocking the key waterway for six days.

After the ship was freed, it was towed to the Great Bitter Lakes and subsequently arrested.

General average has been declared by the ship’s owner, Shoei Kisen, with shippers braced for a big bill to get the 18,300 containers onboard moved to their European destinations.

Shoei Kisen has applied the International Convention on Limitation of Liability on the Ever Given, whereby it will aim to cap claims to a maximum of $115m.