A mammoth cargo ship that blocked the Suez Canal last month is being held in the waterway as authorities pursue a $916 million compensation claim against its owner, according to the vessel’s insurer.
The UK Club, an insurer for the Ever Given, said in a statement Tuesday that the ship’s Japanese owners received a claim from the Suez Canal Authority (SCA), which runs the canal, on April 7. The claim includes $300 million for “loss of reputation.”
The company said a “generous offer” was made to the SCA to settle their claim on Monday, without elaborating on the sum.
“We are disappointed by the SCA’s subsequent decision to arrest the vessel today,” the company’s statement added.