Box lines in legal battle with South Korea’s antitrust body over fines
More than 20 liner operators look set for a protracted legal battle with the Korea ...
After months at anchor in the Bitter Lakes area of the Suez Canal, the Ever Given is finally set to resume its passage to Rotterdam this week.
The law firm representing the vessel’s owner, Japan’s Shoei Kisen Kaisha, said yesterday a formal agreement had been reached on the amount of compensation due to the Suez Canal Authority (SCA) after the grounding of the vessel.
“The UK P&I Club is pleased to announce that, following the agreement in principle between the parties and after further meetings with the SCA’s negotiating committee and numerous court hearings, a formal solution has now been agreed.
It added: “Preparations for the release of the vessel will be made and an event marking the agreement will be held at the authority’s headquarters in Ismailia.”
The Loadstar understands the agreement signing is scheduled for Wednesday with Ever Given expected to sail on the same day to arrive at the Dutch hub on 16-17 July.
The terms of the settlement have yet to be disclosed, although according to Reuters SCA chairman Osama Rabie, it included the delivery of a tug.
The agreement followed a request to adjourn the case launched by the SCA against Shoei Kisen for compensation for the canal blockage, with the request accepted by the court in Ismailia yesterday.
The 20,388 teu Ever Given ran aground at the southern end of the canal on 23 March, blocking the waterway for six days. There was no loss of cargo or any pollution as a consequence, but around 400 vessels were delayed.
After the ship was freed, the SCA requested the vessel’s arrest after lodging an initial compensation claim of $916m. It later reduced the demand by $300m.
But vessel and cargo insurers were sceptical about the claim, arguing that the total costs were closer to $150m.