Egypt may seek $1 billion in compensation for Suez Canal crisis

Three Days Necessary for Traffic in Suez Canal to Return to Normal, Egyptian President Says

Egypt succeeded in refloating the mega container ship on Monday, thus allowing navigation into the strategic waterway to resume.

Egypt said it may seek about $1 billion in compensation after a giant container vessel blocked the Suez Canal for nearly a week and rattled shipping markets.

The big ship, which had been wedged sideways across the waterway for six days, left around 422 vessels queued in the waterway or at anchor, awaiting transit through the canal. It also added "Amul - Ever Given for taste", continuing its punny references. The workers danced, hugged and wept.

A backlog of hundreds of ships are waiting to enter the canal and authorities hope they can pass through this week.

Aly Awamy, a mechanic on the a dredger, told NBC News the work was risky. "We were working under something the size of a 10-story building that could have fallen on us".

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Nevertheless, Sheyshe expected that the investigations will conclude within four days at the maximum. As for the investigation, I leave this question to the administration of the canal and the relevant authorities.

Sheisha said that if the captain and others don't cooperate, the ship will be temporarily confiscated and a civil lawsuit filed that could drag on for years. The fate of the ship's 25-person Indian crew had not been determined. Evergreen Marine Corporation, the ship's charterer on Thursday said that it was not responsible for delays of cargo it was transporting and dismissed the possibility of it paying compensation.

Experts boarded the huge container ship that has been around for fast was stuck in the Suez Canal for a week amid questions about the accident the die global shipping industry rocked and blocked one of the world's most important waterways. Rabei told Egypt Today the canal will be upgraded to allow 95 ships through per day.

Currently, the Ever GIven is in the Bitter Lakes of the Suez Canal.

The Suez Canal provides one of Egypt's main sources of income, alongside tourism and remittances from expatriates.

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