Not so fast, ever given!
The huge container ship that blocked the Suez Canal for nearly a week last month may have come loose, but it won’t get out without a scot – in fact, it’s not going anywhere until a compensatory fee is paid.
According to the Wall Street Journal, Egypt is demanding the substantial payment, which could be as much as $ 1 billion, while local authorities are investigating how the ship became entangled in the canal and closed a major waterway.
“The ship will remain here until the investigation is completed and compensation has been paid,” Osama Rabie, chairman of the Suez Canal Authority, said on Thursday on state television in Egypt.
“We hope for a speedy agreement. The moment they agree to a compensation, the ship is allowed to move. “
The accident “caused chaos in the busy waterway, blocked $ 9 billion in world trade every day and (put) more stress on supply chains already stretched thin during the coronavirus pandemic,” The Post reported earlier.