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Egypt ‘seizes’ Suez megaship over nearly $1bn compensation Updated: Updated: Court ordered the seizure of MV Ever Given until it pays $900 mn Share Article Court ordered the seizure of MV Ever Given until it pays $900 mn The 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 on Tuesday. The 2,00,000-tonne MV Ever Given got diagonally stuck in the narrow but crucial global trade artery in a sandstorm on March 23, triggering a mammoth six-day-long ef...

Egypt will release the Ever Given once the ship's owners and insurers compensate the Egyptian government for losses.

'); Experts say the Suez crisis highlights how little we understand about global trade. By Ian Curran Saturday 3 Apr 2021, 8:00 AM Sat 8:00 AM 31,227 Views 18 Comments Image: Xinhua News Agency/PA Images Image: Xinhua News Agency/PA Images IS THERE ANYTHING to be said for another international crisis? It’s almost hard to believe that in the middle of a pandemic during which global supply chains have proved more or less robust, internationa...