An Egyptian court rejected on Tuesday an appeal by the owner company of the giant Ever Given on the seizure of the ship over financial disputes.
The Suez Canal Authority (SCA) had impounded the massive vessel, which blocked the canal for a week in March 23, causing losses in the global navigation industry worth billions of dollars.
The Economic Court of Ismailia on Tuesday upheld the seizure decision.
However, there is no comment from the owner company yet.
The SCA said that the hulking Ever Given can’t leave the Canal until a financial settlement is reached with the vessel’s Japanese owner, Shoei Kisen Kaisha Ltd.
In April, the economic court had ordered the impounding of Ever Given till a financial dispute with its owner is settled. The vessel crew have officially already notified with the court ruling.
The SCA has requested $916 million in compensating for the huge losses.
The company said last week that negotiations with the Egyptian authorities are underway in order to reach a settlement.
While the Ever Given was heading to the Dutch port of Rotterdam on March 23, it slammed into the bank of the Suez Canal.
Tremendous salvage efforts by tugboats helped in freeing the huge vessel and ending the crises that lasted for a week.
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