Egypt authorities reduce compensation on Ever Given from $916 million to $550 mn ...Egypt

The head of the Suez Canal Authority Osama Rabie announced Monday that the Suez Canal Authority is engaged in a lawsuit dispute against the container ship Ever Given over compensation, and has agreed to reduce costs down to $550 million. “We reduced the compensation amount by 40 percent to US$ 50 million out of $ 916 million, with facilities including $200 million in cash payment, and the rest being $350 million with facilities,” he explained. During a phone interview with host Lamis al-Hadidi on her show Kalema Akhera (Last word), Rabie said that the company that owns the ship has failed to appreciate the effort that went into saving the ship. “Frankly, they did not appreciate the effort

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