CAIRO: The Suez Canal Authority (SCA) said on Tuesday it was still open to negotiating with the owners of a giant container ship which blocked traffic in the waterway for six days in March despite an ongoing litigation process in an Egyptian court.
The Ever Given, one of the world’s largest container ships, became jammed across the canal in high winds on March 23, halting traffic in both directions and disrupting global trade.
On Sunday the court rejected a claim by Shoei Kisen, the Japanese owners of the vessel, to have the vessel released from detention.
The SCA is seeking compensation of $916 million for the disruption suffered but said on Tuesday it would be willing to accept a reduced sum of $550 million, including a $200 million deposit paid to secure the ship’s release and the remaining amount payable through letters of credit.
“The Authority has continued dealing with the situation with complete flexibility during the negotiation procedures with the ship’s owner to maintain the long relationship with it as one of our most important customers...,” the SCA said in a statement.
This flexibility also explains “the continuation of negotiations despite the ongoing litigation procedures to reach an agreement that suits all parties,” it added.
The statement echoed comments by SCA chairman Osama Rabie who also told Egyptian state television on Monday that the Shoei Kisen had only offered $150 million in compensation.
Rabie said investigations into how the ship became stranded in the first place had placed responsibility on the ship’s captain alone, rebutting arguments from the owner’s legal team that blamed the SCA for allowing the ship to sail in bad weather.
Twelve ships sailed through the southern section of the Suez Canal on that day despite the weather, the statement said.
Suez Canal Authority says door still open to negotiation with container ship owner
Suez Canal Authority says door still open to negotiation with container ship owner
Saudi-French cooperation to localize veterinary vaccine manufacturing
RIYADH: In the presence of sector leaders, the National Livestock and Fisheries Development Program signed a memorandum of understanding with French company Ceva under the patronage of Minister of Environment, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadhli, who also chairs the program’s board.
The agreement aims to localize vaccine manufacturing, transfer technology and technical expertise, and expand the industrial and commercial production of veterinary vaccines across the Kingdom.
According to the MoU, the two parties will work to achieve high efficiency in mass production scale-up and establish a clear path for sustainable commercial operation that meets the needs of the local and national market, as well as strengthen the biosecurity and food security system.
The MoU also includes the development and modernization of messenger RNA vaccine technologies, along with joint research and development of a Middle East Respiratory Syndrome vaccine for camels. This involves designing, evaluating, and developing vaccines specifically tailored to combat the virus.
The agreement also covers the development of a rabies vaccine and related solutions, as well as supporting national efforts to control the disease through vaccine provision, capacity building, and the implementation of integrated prevention strategies.
The collaboration between the program and Ceva aims to meet the needs of the poultry vaccine market in the Kingdom, currently estimated at around SR750 million ($199 million).
The company will work to cover approximately 30 percent of this market with an initial investment of around SR250 million.
With continued government support for poultry projects and increased production in the sector, the market is expected to grow at a rate exceeding 10 percent annually, reaching approximately SR1.25 billion by 2030.
The addition of the world’s leading poultry vaccine manufacturer to Biotech Park highlights the program’s key role in developing new industries within the livestock and fisheries sector.
It also highlights the program’s commitment to building international partnerships with global companies, organizations, research centers, and universities to support advanced biotechnology industries and attract high-quality investments. It also seeks to create new economic sectors based on biotechnology, enhance veterinary health security, and support the sustainable economic development of the livestock sector, as well as empower national and emerging companies and provide advanced research and industrial infrastructure.
This will solidify the Kingdom’s position as a global hub for biotechnology industries and the development of national capabilities.
Ceva is the first international partner to join Biotech Park, the future veterinary biotechnology city launched by the program in Dhurma Governorate. The city is the world’s first specialized and fully integrated hub for veterinary biotechnology, serving as a benchmark for sector development and a platform supporting markets across the Kingdom, the Gulf, the Middle East, Africa and beyond.
The signing of Ceva is a significant step, given its position as the world’s leading manufacturer of poultry vaccines and medicines, and one of the most prominent international companies in the field of biotechnology.
The MoU aims to localize the veterinary vaccine industry, ensuring its compatibility with the strains of poultry diseases prevalent in Saudi Arabia. This includes the transfer of technology and technical expertise from Ceva, along with the implementation of specialized training programs to guarantee that manufacturing facilities comply with international Good Manufacturing Practice standards.
