The Suez Canal chief said authorities are negotiating a financial settlement with the owners of a massive vessel that blocked the crucial waterway for nearly a week.
Lieutenant General Osama Rabie said he hoped talks with Shoei Kisen Kaisha Ltd, the Japanese owner of the skyscraper-sized Ever Given, will conclude without a lawsuit.
“We are discussing with them a peaceful resolution to the matter without resorting to the judiciary,” he said.
He maintained that bringing the case before a court would be more harmful to the firm than settling with the canal’s management.
The canal chief said last week the Suez Canal Authority was expecting more than one billion US dollars in compensation, warning the ship would not be allowed to leave the canal if the issue of damages turns into a legal dispute.
Egypt races to dislodge giant vessel blocking Suez Canal
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Egypt races to dislodge giant vessel blocking Suez Canal
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