Shipping The cargo ship Ever Given blocked the Suez Canal and caused a billion-dollar compensation dispute, now the ship is finally about to move

The parties have reached a preliminary agreement on the release of Ever Given.

Container vessel Ever Given may be able to continue its journey from Suez in the coming days. Suez Canal Authority (SCA) and the ship-owning Japanese company Shoei Kinsen reached a preliminary agreement last week to release the ship. The agreement was announced on Wednesday by the UK Club, which insures the ship by official papers are being prepared.

In Finland, a lawyer acting as a state-appointed marine casualty Lauri Railas estimates that the agreement in principle would allow the vessel to become operational within about a week.

“The agreement is being finalized and has yet to be signed. A breakthrough has been made, ”he says the situation of the ship closely next to Railas HS.

Railas is a doctor of law and a docent of civil law at the University of Helsinki, who has worked in the marine insurance industry for a long time.

World Ever Given, one of the largest container vessels, drifted across the Suez Canal in a strong wind on March 23 and blocked it for six days.

Egyptian Channel Administration originally demanded from the shipowner $ 916 million, or about $ 770 million, in compensation for the ship’s salvage costs. Due to a legal dispute, the ship has been at anchor in the Great Lake Katkerajärvi, which is part of the Suez Canal.

Since then, the claim has shrunk, but has remained at more than half a billion dollars, according to the latest data.

“Ever Given has been there for three months, the first weeks on the canal and then on the lake in the middle of the canal.”

In addition to its crew, 18,000 containerized cargo has waited for the voyage to continue on board. The S Group’s three containers with fans and household appliances, among others, have also been on board.

According to Railas, damage to cargo is usually borne by insurance companies, but delays do not result in compensation.

“If the cargo has been garden furniture, for example, it can incur costs when it is no longer sold in the autumn. The situation is most difficult for small businesses with cargo there. They will suffer the greatest damage. ”

Ever Givenin once released, it is scheduled to sail to Rotterdam in the Netherlands, Antwerp in Belgium and Hamburg in Germany. Cargo from these ports is transported to Finland by smaller vessels.

“Ocean vessels will stay in the big ports of Northern Europe.”

The seizure of the ship at Suez has now continued for 76 days and its passage has been at a standstill for 97 days. Railas believes that various claims processes can continue for a long time even after the ship is released.

Read more: Suez’s channel blockage rescue fees could reach nearly a billion, the S Group will also have to pay costs due to an ancient practice

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