CAIRO: The head of the Suez Canal Authority on Thursday said that losses and damages resulting from the grounding of the Ever Given container ship could run to more than $1 billion.
Osama Rabie told media that investigations into the incident, which resulted in the vital trade waterway being blocked to shipping for nearly a week, had begun on Wednesday.
The ship’s black box recorder would reveal details of how the giant vessel – successfully refloated on Monday – ended up jammed sideways across the canal, he added.
Authorities said the backlog of hundreds of ships was clearing smoothly and that the Ever Given was currently undergoing checks while moored away from the main Suez navigation channel.
Rabie pointed out that the Ever Given would be allowed to continue its voyage when compensation had been agreed, but he warned that the vessel would be held if a settlement could not be reached. “The ship carries goods worth $3.5 billion. There was cooperation from the company that owns the ship during the crisis,” he said.
He noted that the probe into the international shipping crisis was being conducted by a team that included marine, legal, loss assessment, and engineering experts while predicting that Egyptian compensation claims could be in excess of $1 billion.
The blockage held up billions of dollars in global trade each day the canal was closed. On Monday, 1,134 ships passed through the Suez and another 81 on Tuesday, with the largest container vessels given priority passage.
According to Rabie, Egyptian President Abdel Fattah El-Sisi had directed that incentives be granted in the form of a 5 percent to 15 percent reduction for ships affected by the incident.
“President El-Sisi spoke to me every day to follow up the latest developments in the grounded ship issue. At dawn on Monday, the president announced the movement of the ship,” he added.
The 800 workers involved in the tricky operation to refloat the Ever Given are to receive bonuses and El-Sisi also pledged to organize a celebration ceremony for them.
Global credit rating agency DBRS Morningstar said that total losses covered by insurance would not be overly excessive due to the relatively short period the ship was stuck in the canal, adding that most insurance contracts set a maximum amount of coverage.
Egypt’s claims bill for Ever Given ship’s Suez blockage may hit $1bn: Canal authorities
https://arab.news/cab68
Egypt’s claims bill for Ever Given ship’s Suez blockage may hit $1bn: Canal authorities
Spain highlights importance of Gaza reconstruction
- Spain officially recognized Palestine as a state in May 2024, in a coordinated move alongside Ireland and Norway
RAMALLAH: The Palestinian prime minister, Mohammed Mustafa, and the Spanish foreign minister, Jose Manuel Albares, on Friday discussed the latest developments in the West Bank and Gaza Strip.
During their telephone conversation they emphasized the need to intensify international efforts to end the Israeli occupation and halt attacks and settler violence, and to secure the release of Palestinian funds held by Israeli authorities.
They affirmed the importance of ongoing efforts relating to plans for the reconstruction of Gaza, and Europe’s significant role in this process. Mustafa and Albares highlighted the need to unify Palestinian institutions in Gaza with those in the West Bank, with the aim of establishing a Palestinian state in line with international resolutions, including last year’s New York Declaration.
They also discussed coordination between their countries, and the strengthening of Spain’s political, diplomatic and financial support for Palestine, and Mustafa thanked Spain for its ongoing support.
Spain officially recognized Palestine as a state in May 2024, in a coordinated move alongside Ireland and Norway. Estephan Salameh, the Palestinian finance and planning minister, is set to visit Spain this month to discuss enhanced cooperation, particularly in the areas of development and reconstruction. Meanwhile, Israel continues operating in the occupied West Bank.
The Palestinian Prisoners media office said on Friday that Israel carried out numerous raids across the territory, including the major cities of Ramallah and Hebron, according to The Associated Press.
Nearly 50 people were detained, following the arrest of at least 50 other Palestinians on Thursday, most of those in the Ramallah area.
As 2026 begins, the shaky 12-week-old ceasefire between Israel and Hamas has largely ended large-scale Israeli bombardment of Gaza.
But Palestinians are still being killed by Israeli fire, especially along the so-called Yellow Line that delineates areas under Israeli control, and the humanitarian crisis is compounded by frequent winter rains and colder temperatures.
On Friday, American actor and film producer Angelina Jolie visited the Rafah border crossing between Egypt and the Gaza Strip.
The only crossing between the territory and a country other than Israel, it remains closed despite Palestinian requests to reopen it to people and aid.
Jolie met with members of the Red Crescent on the Egyptian side of the Rafah border crossing and then visited a hospital in the nearby city of Arish to speak with Palestinian patients on Friday, according to Egyptian officials.
Aid groups say not enough shelter materials are getting into Gaza during the truce.
