Suez Canal Authority (SCA) chairman Osama Rabie has indicated he is prepared to cut the insurance claim for the containership grounding the clogged the canal from $916m to $600m.
The offer is the first indication that the SCA maybe prepared to drop its hard line on negotiations and compromise.
The 20,388-teu Ever Given (built 2018), and its cargo, have now been delayed for more than seven weeks since it grounded while negotiations over the claim continue.
Rabie revealed the offer in a TV interview given to Egypt’s El Hakaya talk show, on TV channel MBC Masr, according to Cairo newspaper Egypt Today.
The revised claim marks a considerable reduction in the original $916m claim which covered a salvage bonus, reputational damage to the SCA and physical damage the Suez Canal.
The Ever Given blocked the Suez Canal for six days in March, causing major disruption to shipping and world trade.
The SCA claim has been made against the vessel’s owner, Japan's Shoei Kisen Kaisha which has protection and indemnity insurance with the UK P&I Club.
The insurer said it is aware of reports of Rabie’s offer but added it not yet seen evidence to substantiate the claim. The offer of a reduction has also not yet been indicated in legal proceedings it said.
“The UK Club has seen the public comments made by SCA chairman, Osama Rabie indicating that the SCA has reduced its claim from $916m to $600m,” UK P&I said.
“The reduced amount has not been reflected in the SCA's claim filed at court and the Ever Given's owners still have not been provided with evidence that would support a claim of this size, which remains exceptionally large. The Ever Given's interests continue to negotiate in good faith with the SCA."
The Ever Given has been arrested by the SCA while negotiations over its insurance claim continue. A recent appeal by Shoei against the SCA's arrest of the Ever Given was recently turned down by an Egyptian court.
