Egypt drops Ever Given damages claim to $600 million

Egypt has dropped its compensation claim from the owners of the Ever Given, the container shipped that blocked the Suez Canal for six days, from $916 million to $600 million.

According to Egypt, its claim includes damages due to “loss of reputation”, a $300 million salvage bonus, and other attendant costs.

The industry claim was scaled down somewhat after some in the industry, with Lloyd’s List describing it as a “deliberately inflated demand”.

However, despite the significant reduction, the Ever Given’s insurer said that the claim is still too high, citing a lack of evidence to support it.

The insurer, UK Club, also revealed that its own “generous offer” had been rejected by the Suez Canal Authority, though it did not specify the amount.

The Ever Given has been impounded in the Great Bitter Lake 30 miles from the site of the incident. Most of the crew are still onboard, with only a few permitted to leave, so that the ship remains safe until it is ready to be released

The ship has now been idle for more than 40 days.

Source: Business Insider, Lloyd’s List