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.
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Egypt’s claims bill for Ever Given ship’s Suez blockage may hit $1bn: Canal authorities
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Egypt’s claims bill for Ever Given ship’s Suez blockage may hit $1bn: Canal authorities
Iran launches three satellites into space from Russia
- Domestically built observation satellites marks new step for Tehran’s space program despite Western sanctions
TEHRAN: Iran launched three domestically built observation satellites into space from Russia on Sunday, state television reported, marking a new step for Tehran’s space program despite Western sanctions.
The country maintains that its aerospace industry is peaceful and complies with UN Security Council resolutions imposed over its nuclear program.
“Three Iranian satellites, Zafar-2, Paya and Kowsar 1.5, were launched into space by a Soyuz rocket from the Vostochny Cosmodrome in Russia,” Iranian television reported.
The satellites were to be used for “observation” and were designed by “the private sector,” the official IRNA news agency said.
Paya is Iran’s most advanced domestically produced imaging satellite, using artificial intelligence to improve image resolution, IRNA said.
It said the satellite would focus on water resource management, environmental monitoring and mapping.
The Russian Soyuz launcher was chosen because it is one of the most reliable in the world for transporting sensitive satellites, according to the Fars news agency.
Iran has carried out 10 satellite launches in the last two years, including one in July from the same launch site in Russia.
Western countries fear that these satellite launch systems incorporate technologies interchangeable with those used in ballistic missiles, potentially capable of carrying a nuclear warhead.
Tehran denies those accusations and refutes that it is trying to acquire nuclear weapons.
The country maintains that its aerospace industry is peaceful and complies with UN Security Council resolutions imposed over its nuclear program.
“Three Iranian satellites, Zafar-2, Paya and Kowsar 1.5, were launched into space by a Soyuz rocket from the Vostochny Cosmodrome in Russia,” Iranian television reported.
The satellites were to be used for “observation” and were designed by “the private sector,” the official IRNA news agency said.
Paya is Iran’s most advanced domestically produced imaging satellite, using artificial intelligence to improve image resolution, IRNA said.
It said the satellite would focus on water resource management, environmental monitoring and mapping.
The Russian Soyuz launcher was chosen because it is one of the most reliable in the world for transporting sensitive satellites, according to the Fars news agency.
Iran has carried out 10 satellite launches in the last two years, including one in July from the same launch site in Russia.
Western countries fear that these satellite launch systems incorporate technologies interchangeable with those used in ballistic missiles, potentially capable of carrying a nuclear warhead.
Tehran denies those accusations and refutes that it is trying to acquire nuclear weapons.
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