Egypt 'seizes' megaship over nearly $1bn Suez claim

A megaship which blocked Egypt’s Suez Canal and crippled world trade for nearly a week has been ‘seized’ on court orders until the vessel’s owners pay $900 million, canal authorities said Tuesday. The MV “Ever Given was seized due to its failure to pay $900 million” compensation, Suez Canal Authority chief Osama Rabie was quoted as saying by Al-Ahram, a state-run newspaper. The Japanese-owned, Taiwanese operated and Panama flagged vessel got diagonally stuck in the narrow but crucial global trade artery in a sandstorm on March 23, setting in motion a mammoth six-day-long effort by Egyptian per…

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