Naguib Sawiris criticizes the Suez Canal Authority: The amount of compensation for the delinquent ship is excessive and unrealistic


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Egyptian businessman Naguib Sawiris commented on the compensation requested by the Suez Canal Authority from the delinquent ship Evergiven company.

Sawiris tweeted, through his account on the social networking site “Twitter”, Tuesday, saying: “Compensation is exaggerated and unrealistic, and it is not from the national interest to exaggerate compensation.”

The Suez Canal Authority had requested compensation from the delinquent ship company in the amount of 916 million 526 thousand and 494 US dollars only, which prompted the company to file a grievance, but the court rejected the grievance.

The Ismailia Economic Court decided the second circuit, which was held today, Tuesday, headed by Counselor Ahmed Gad and the membership of advisors Muhammad Al-Tahawi, Omar Mohsen, and the secretariat of Hamid Ahmed, to reject the grievance submitted by the company that owns the Panamanian ship “Ever Geffen”, which ran aground in the Suez Canal in late March, which caused the disruption of navigation. In the canal for a week, the court also confirmed the precautionary seizure of the ship, according to the laws in this regard.

It is noteworthy that the Economic Court had issued its precautionary seizure decision last month after the report submitted by the authority to the court, in which it inflicted the losses suffered by the Suez Canal as a result of the disruption of navigation.

It is noteworthy that Article 59 of the Maritime Trade Law allows the seizure of the ship that has committed an accident and preventing it from moving, as well as Article 60 of the Maritime Law confirms the precautionary seizure in order to demand the payment of a marine debt for the pollution or the work of salvaging goods and other things that the ship caused to the maritime accident.

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