CAIRO (AP) — Egyptian authorities have impounded a massive cargo vessel that blocked the Suez Canal last month amid a financial dispute with its owner.
The Suez Canal chief says Monday the authority will not allow the hulking Ever Given to leave the country until a compensation amount is settled on with its Japanese owner, Shoei Kisen Kaisha Ltd.
A judicial official said the canal demanded at least $900 million in compensation.
The Panama-flagged ship that carries some $3.5 billion worth of cargo between Asia and Europe ran aground on March 23 in the canal.
Salvage teams freed it six days later, ending a crisis that had clogged one of the world’s most vital waterways.