Investigation begins into how ship got stuck on Suez Canal

Stranded container ship Ever Given one of the world's largest container ships is seen after it ran aground in Suez Canal

Taiwan's Evergreen Marine, the vessel's charterer, said on Thursday that it was not responsible for delays of any cargo it was transporting.

A spokesperson for Shoei Kisen Kasa, the Japanese firm that owns the Ever Given, told Bloomberg it would discuss compensation with the canal authority but declined to give further details.

The figure is a rough estimate of losses linked to transit fees, damages incurred during the dredging and salvage efforts, the cost of the equipment, and labor, Suez Canal Authority chief executive Osama Rabie said late Wednesday to local television channel Sada Elbalad.

Rabie did not specify in the interview who the Suez Canal Authority would try to get compensation from, but he said Egypt "should get its due" for the debacle that upended global shipping markets and brought hundreds of vessels to a halt, the outlet reported.

The Suez Canal provides one of Egypt's main sources of income, alongside tourism and remittances from expatriates. The delay almost doubled rates for oil product tankers.

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Clearing the ships that built up at the Suez Canal could take four days, although catching up at ports will take longer, the United Nations Conference on Trade and Development (UNCTAD) said. With over 10 per cent of global maritime trade passing through the Suez and few alternative routes for shipping goods between Asia and Europe, snarls in the global supply chain could have been huge.

Of the 1,11,372 tonnes of oil products that sailed from the south to the north of the canal, 17% were from India, the third-highest among exporting countries in the northbound direction.

The Suez Canal expects to see 140 more ships pass through the waterway on Tuesday after traffic restarted overnight following the release of a grounded container ship, its chairman said.

The Evergreen management also exuded confidence that there will not be a dispute.

"In 40 years now, not a single case of dispute has happened between SCA and Evergreen", he said. "We all respect all the rules of the SCA".

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