Not so fast, ever given!
The massive container ship that blocked the Suez Canal for almost a week last month may have been caught, but it’s not going down without a shot – in fact, it’s going nowhere before a compensation fee has been paid.
Egypt is demanding the substantial payment, which could amount to as much as $ 1 billion, as local authorities investigate how the ship was trapped in the canal, according to the Wall Street Journal.
“The vessel will remain here until the investigation is completed and compensation is paid,” Osama Rabie, chairman of the Suez Canal Authority, told state television in Egypt on Thursday.
“We hope for a speedy agreement. Once they agree to compensation, the vessel will be allowed to move. ”
The crash “caused chaos in the very wrong waterway, which blocked $ 9 billion in world trade every day and (increased) tensions on the supply chains that stretched during the coronavirus pandemic,” The Post reported earlier.