The Egyptian Economic Court in Ismailia ruled today (13) that unless the owner of the “Chang Chi” pays $900 million in compensation, the ship will remain in preventive detention and will remain in Egypt.
According to the Arab Al Shorouk newspaper, the Suez Canal Authority filed a request for judicial seizure of the vessel with the local court, and until the owner pays $900 million in compensation, the vessel will be subject to the Suez Canal The sources pointed out that the court will go to inform the crew of the cargo ship to continue the seizure on Tuesday morning local time.
The economic court of the city of Ismailia has also approved that the two sides will soon sign an agreement on the preventive detention of the cargo ship “Chang Chi”, which can be released by paying $900 million, including the total amount of assistance to get out of the stranded situation, repair the ship, maintenance and repair, blockage of the canal damage and other costs.
The Suez Canal Authority carried out the precautionary seizure in accordance with the Economic Court Law, which regulates maritime disputes and trade litigation in Egypt; in addition, the case of the Evergreen “Chang Chi” cargo ship was referred to the Ismailia City Prosecutor’s Office, which is investigating the case.
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