Refusal to pay huge compensation Japanese shipowners demand a discount from Egypt, Egypt: detained in accordance with the law

Egypt’s Suez Canal Authority issued a statement on the 13th, will be in accordance with the law to block the Suez Canal for up to six days of super-large cargo ship “Long-Gift” to implement “preventive detention” until the shipowner pays compensation.

Egypt said the Japanese shipowner, Zhengrong Steamboat, was fully responsible for the compensation, which included the Suez Canal Authority’s previous cost of towing the Changhui off the riverbank and repairing the vessel, as well as $1 billion in damage caused by the canal blockage.

However, Japan’s Zhengrong Steamboat said it refused to pay, saying the compensation was too high and demanding a 90% reduction.