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Court: Suez Canal Authority can continue holding errant ship

Posted On: May. 24, 2021 9:30 AM CST

The Economic Court in Ismailia, Egypt, has allowed the Suez Canal Authority to continue the detention of Ever Given containership, thereby rejecting a complaint by the vessel’s owner Shoei Kisen Kaisha Ltd. against the SCA’s actions, NDTV reported citing Reuters. The SCA has reduced the settlement sum to $550 million from the initial $916 million for releasing the vessel, which blocked the waterway for six days in March.

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