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Ever Given owners and Suez Canal Authority finally agree deal for compensation

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  • Ever Given owners and Suez Canal Authority finally agree deal for compensation

The infamous container ship the Ever Given, which was stuck in the Suez Canal for six days in late March, has finally set sail for Rotterdam.

The Suez Canal Authority (SCA), the ship’s owners and insurers, finally reached an agreement in respect of compensation payments.

The SCA has been seeking compensation for the cost of the salvage operation, damage to the canal's banks and other losses. The SCA initially asked for $916m compensation, including a $300m salvage bonus and $300m for reputational damage. UK Club, which insured the ship, rejected the claim.

The SCA reduced its demands to $550m (£397m) and the settlement (which has not been publicly announced) was signed today to coincide with the ship's release.

The blockage to the Suez Canal has had a huge impact on global trade. Lloyds List has compiled data which suggests the blockage held up around $9.6 billion worth of cargo each day it was stuck.

The backlog from the ship's delay has led to a leap in shipping rates and sent the cost of containers soaring to approximately $15,000.

The ship had been impounded for three months near the canal city of Ismailia after being freed from the Canal. At 9.30 GMT, the ship departed Ismailia heading towards the Mediterranean and ultimately the port of Rotterdam. The ship is now expected to arrive in Rotterdam on July 29.

If you are looking to improve efficiency and reduce costs in your supply chains, please do feel free to contact us at Tudor International Freight, on 0333 1234 747 or email sales@tudorfreight.com.

About Us - Tudor International Freight

Established in Horsforth, Leeds, back in 1991, we are a logistics company who are experts in road, air and sea freight. We transport goods to most major cities, towns and suburbs across all 6 continents. We go over and above to ensure that our client’s products, goods and cargo are transported around the world safely and successfully. We are a family business, who are still based in Horsforth, Leeds, West Yorkshire.

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    • Tudor International Freight
      Low Hall Business Park
      Low Hall Road
      Horsforth

      Leeds, LS18 4EF
      UK

      T: +44 (0) 333 1234 747
      E: sales@tudorfreight.com
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