The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7. 
 
The Suez Canal Authority (SCA) has held the giant ship and its crew in a lake between two stretches of the waterway since it was dislodged on March 29, amid a dispute over a demand for compensation by the SCA. 
 
The Japanese-owned Ever Given had become stuck in high winds and remained wedged across the canal for six days, disrupting global trade. 
 
"Preparations for the release of the vessel will be made and an event marking the agreement will be held at the Authority's headquarters in Ismailia in due course," Faz Peermohamed of Stann Marine, which represents owner Shoei Kisen and its insurers, said in a statement. 
 
The SCA said the settlement contract would be signed on Wednesday at a ceremony, and that participants would be able to watch the ship leaving. 
 
Stann Marine gave no details of the settlement. 
 
Osama Rabie, the SCA chairman, said the canal will receive a tug boat with a pulling capacity of about 75 tonnes as part of a settlement, without mentioning any other details. 
 
"We preserved the rights of the authority in full, preserved our relationship with the company and also political relations with Japan," he told a private TV channel on Sunday evening. 
 
The canal earned revenue of $3 billion in the first six months of 2021, up 8.8% compared with the same period last year, despite the Ever Given accident, Rabie said. 
 
Shoei Kisen and its insurers said last month they had reached an agreement in principle with the SCA. 
 
The SCA had demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue before publicly lowering the request to $550 million. 
 
Shoei Kisen and the ship's insurers had disputed the claim and the ship's detention under an Egyptian court order. 
 
Earlier on Sunday, an Egyptian court adjourned hearings in the compensation dispute to July 11 to allow the canal and the ship's owner to finalise the settlement, court sources and a lawyer said. 
 
(With inputs from agencies)

The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7.

The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7. The Suez Canal Authority (SCA) has held the giant ship and its crew in a lake between two stretches of the waterway since it was dislodged on March 29, amid a dispute over a demand for compensation by the SCA. The Japanese-owned Ever Given had become stuck in high winds and remained wedged across the canal for six days, disrupting global trade. "Preparations for the release of the vessel will be made and an event marking the agreement will be held at the Authority's headquarters in Ismailia in due course," Faz Peermohamed of Stann Marine, which represents owner Shoei Kisen and its insurers, said in a statement. The SCA said the settlement contract would be signed on Wednesday at a ceremony, and that participants would be able to watch the ship leaving. Stann Marine gave no details of the settlement. Osama Rabie, the SCA chairman, said the canal will receive a tug boat with a pulling capacity of about 75 tonnes as part of a settlement, without mentioning any other details. "We preserved the rights of the authority in full, preserved our relationship with the company and also political relations with Japan," he told a private TV channel on Sunday evening. The canal earned revenue of $3 billion in the first six months of 2021, up 8.8% compared with the same period last year, despite the Ever Given accident, Rabie said. Shoei Kisen and its insurers said last month they had reached an agreement in principle with the SCA. The SCA had demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue before publicly lowering the request to $550 million. Shoei Kisen and the ship's insurers had disputed the claim and the ship's detention under an Egyptian court order. Earlier on Sunday, an Egyptian court adjourned hearings in the compensation dispute to July 11 to allow the canal and the ship's owner to finalise the settlement, court sources and a lawyer said. (With inputs from agencies)

Settlement agreed to release Ever Given ship that blocked Suez Canal

Five Thai activists were indicted on Wednesday on charges of attempted violence against the queen during a pro-democracy demonstration last year, when a royal motorcade encountered dozens of protesters.&nbsp;

Their lawyer Poonsuk Poonsukcharoen said prosecutors indicted the five under a section of the law that carries a minimum sentence of 16 years in prison for violence or attempted violence against the queen, heir-apparent or regent.&nbsp;

"I did not have such intentions, nor was I trying to do so. I've reaffirmed these facts over the past few months," said one of the accused, Bunkueanun 'Francis' Paothong, 21.&nbsp;

More serious breaches of the same law can result in life imprisonment, or a death sentence if an act is likely to endanger their life.&nbsp;

Others include Suranat Panprasert, 35, a coordinator for a youth group, Ekachai Hongkangwan, 45, and two others. All have denied the charges and are seeking bail.&nbsp;

The case centres on an encounter at the height of anti-government demonstrations last year when Queen Suthida's convoy passed through a group of protesters on October 14.&nbsp;

Video from the incident showed police pushing protesters away from the queen's car.&nbsp;

The court granted the five bail without conditions, Poonsuk, said with the next hearing scheduled for April 26.&nbsp;

"I'm very grateful that the court granted us bail, but our fight has not stopped. We will have to fight these accusations," Bunkueanun said.&nbsp;

Anti-government protesters that emerged last year demanded the resignation of Prime Minister Prayuth Chan-ocha and broke longstanding taboos by openly calling for reforms of the powerful monarchy.&nbsp;

The Royal Palace has not commented directly on the protests since they began last year.&nbsp;

There are currently 19 Thai youth activists in jail having been denied bail. They face a litany of charges, including sedition, while 12 of them are also charged with lese majeste, or insulting the monarchy, a crime punishable by up to 15 years in prison.&nbsp;

(With inputs from agencies)&nbsp;

Five Thai activists were indicted on Wednesday on charges of attempted violence against the queen during a pro-democracy demonstration last year, when a royal motorcade encountered dozens of protesters.

Five Thai activists were indicted on Wednesday on charges of attempted violence against the queen during a pro-democracy demonstration last year, when a royal motorcade encountered dozens of protesters. Their lawyer Poonsuk Poonsukcharoen said prosecutors indicted the five under a section of the law that carries a minimum sentence of 16 years in prison for violence or attempted violence against the queen, heir-apparent or regent. "I did not have such intentions, nor was I trying to do so. I've reaffirmed these facts over the past few months," said one of the accused, Bunkueanun 'Francis' Paothong, 21. More serious breaches of the same law can result in life imprisonment, or a death sentence if an act is likely to endanger their life. Others include Suranat Panprasert, 35, a coordinator for a youth group, Ekachai Hongkangwan, 45, and two others. All have denied the charges and are seeking bail. The case centres on an encounter at the height of anti-government demonstrations last year when Queen Suthida's convoy passed through a group of protesters on October 14. Video from the incident showed police pushing protesters away from the queen's car. The court granted the five bail without conditions, Poonsuk, said with the next hearing scheduled for April 26. "I'm very grateful that the court granted us bail, but our fight has not stopped. We will have to fight these accusations," Bunkueanun said. Anti-government protesters that emerged last year demanded the resignation of Prime Minister Prayuth Chan-ocha and broke longstanding taboos by openly calling for reforms of the powerful monarchy. The Royal Palace has not commented directly on the protests since they began last year. There are currently 19 Thai youth activists in jail having been denied bail. They face a litany of charges, including sedition, while 12 of them are also charged with lese majeste, or insulting the monarchy, a crime punishable by up to 15 years in prison. (With inputs from agencies)

Thai prosecutors indict five for queen's motorcade blockage  

Experts on Tuesday boarded the massive container ship that had blocked Egypt's vital Suez Canal and disrupted global trade for nearly a week, seeking answers to a single question that could mean billions of dollars in legal implications: What went wrong?&nbsp;

As convoys of ships again began travelling in this artery linking East and West through the Mediterranean and Red Seas, hundreds more idled waiting for their turn in process that will take days. Egyptian government officials, insurers, shippers and others similarly waited for more details about what caused the skyscraper-sized Ever Given to become wedged across the canal's southern single-lane on March 23.&nbsp;

When blame gets assigned, it could turn into years of litigation over the costs of repairing the ship, fixing the canal and reimbursing those, who saw their cargo shipments disrupted. And with the vessel being owned by a Japanese firm, operated by a Taiwanese shipper, flagged in Panama and now stuck in Egypt, matters quickly become an international morass.&nbsp;

"This ship is a multinational conglomeration," said Capt John Konrad, the founder and CEO of the shipping news website gcaptain.Com.&nbsp;

Experts boarded the Ever Given as it idled on Tuesday in Egypt's Great Bitter Lake, just north of the site where it previously blocked the canal. A senior canal pilot, speaking on condition of anonymity because he was not authorised to talk to journalists, said that experts were looking for signs of damage and trying to determine the cause of the vessel's grounding.&nbsp;

As of Tuesday morning, more than 300 vessels carrying everything from crude oil to cattle were waiting on both ends of the Suez Canal and in the Great Bitter Lake for permission to continue sailing to their destinations, canal service provider Leth Agencies said.&nbsp;

The ship's owner, the Japanese firm Shoei Kisen Kaisha Ltd., said Tuesday that it would be part of the investigation along with other parties, though it did not identify them by name. It also refused to discuss possible causes of the incident, including the ship's speed and the high winds that buffeted it during a sandstorm, saying it cannot comment on an ongoing investigation. Initial reports also suggested a 'blackout' struck the vessel, something denied by the ship's technical manager.&nbsp;

(With inputs from agencies)&nbsp;

Experts on Tuesday boarded the massive container ship that had blocked Egypt's vital Suez Canal and disrupted global trade for nearly a week, seeking answers to a single question that could mean billions of dollars in legal implications: What went wrong?

Experts on Tuesday boarded the massive container ship that had blocked Egypt's vital Suez Canal and disrupted global trade for nearly a week, seeking answers to a single question that could mean billions of dollars in legal implications: What went wrong? As convoys of ships again began travelling in this artery linking East and West through the Mediterranean and Red Seas, hundreds more idled waiting for their turn in process that will take days. Egyptian government officials, insurers, shippers and others similarly waited for more details about what caused the skyscraper-sized Ever Given to become wedged across the canal's southern single-lane on March 23. When blame gets assigned, it could turn into years of litigation over the costs of repairing the ship, fixing the canal and reimbursing those, who saw their cargo shipments disrupted. And with the vessel being owned by a Japanese firm, operated by a Taiwanese shipper, flagged in Panama and now stuck in Egypt, matters quickly become an international morass. "This ship is a multinational conglomeration," said Capt John Konrad, the founder and CEO of the shipping news website gcaptain.Com. Experts boarded the Ever Given as it idled on Tuesday in Egypt's Great Bitter Lake, just north of the site where it previously blocked the canal. A senior canal pilot, speaking on condition of anonymity because he was not authorised to talk to journalists, said that experts were looking for signs of damage and trying to determine the cause of the vessel's grounding. As of Tuesday morning, more than 300 vessels carrying everything from crude oil to cattle were waiting on both ends of the Suez Canal and in the Great Bitter Lake for permission to continue sailing to their destinations, canal service provider Leth Agencies said. The ship's owner, the Japanese firm Shoei Kisen Kaisha Ltd., said Tuesday that it would be part of the investigation along with other parties, though it did not identify them by name. It also refused to discuss possible causes of the incident, including the ship's speed and the high winds that buffeted it during a sandstorm, saying it cannot comment on an ongoing investigation. Initial reports also suggested a 'blackout' struck the vessel, something denied by the ship's technical manager. (With inputs from agencies)

Probe into Suez Canal blockage begins 

Positive news came from Suez canal on Saturday as the Dutch salvage firm said that the stuck ship will be freed from the canal bed early next week. Billions of dollars are at stake as shipping through Suez canal, a vital sea-route between East and West has stopped due the ship. Shipping companies have been forced to re-route traffic around the southern tip of Africa.

The president of Shoei Kisen -- the Japanese firm which owns the giant container vessel sounded more optimistic as he said that the vessel will be freed on Saturday itself.

Meanwhile, Egypt's Suez Canal Authority chief has said that strong wind was not the main reason for grounding of the ship

"Strong winds and weather factors were not the main reasons for the ship's grounding, there may have been technical or human errors," Osama Rabie said at a press conference in Suez.

Billions of dollars of cargo are now stalled at either end of the vital shipping lane between Asia and Europe, with their owners mulling whether to wait it out or take the longer and more expensive route around the Cape of Good Hope at the cost of up to 12 additional days at sea.

The MV Ever Given, which is longer than four football fields, has been wedged diagonally across the span of the canal since Tuesday, blocking the waterway in both directions.

At a press conference in Japan Friday, Shoei Kisen president Yukito Higaki told local media there were no signs of damage to its engines and various instruments.

"The ship is not taking water. There is no problem with its rudders and propellers. Once it refloats, it should be able to operate," Higaki said, according to the Asahi Shimbun.

The company aims to free the ship "tomorrow night Japan time", he added, the Nikkei news agency said.

"We are continuing work to remove sediment as of now, with additional dredging tools."

In the Netherlands, the executive director of Royal Boskalis, parent company of Smit Salvage, set a less demanding target.

"With the ships we'll have in place by then, the earth we've managed to dredge, and the high tide, let's hope that'll be enough to budge the ship at the start of next week," Peter Berdowski told a public television chat-show late Friday.

"We are already in the process of installing a crane on land. That will allow us to eventually remove all the containers from the foredeck, which could involve hundreds of containers."&nbsp;

The blockage has caused a huge traffic jam of more than 200 ships at both ends of the 193-kilometre (120-mile) long canal and major delays in the delivery of oil and other products.

(With AFP inputs)

Positive news came from Suez canal on Saturday as the Dutch salvage firm said that the stuck ship will be freed from the canal bed early next week. Billions of dollars are at stake as shipping through Suez canal, a vital sea-route between East and West has stopped due the ship.

Positive news came from Suez canal on Saturday as the Dutch salvage firm said that the stuck ship will be freed from the canal bed early next week. Billions of dollars are at stake as shipping through Suez canal, a vital sea-route between East and West has stopped due the ship. Shipping companies have been forced to re-route traffic around the southern tip of Africa. The president of Shoei Kisen -- the Japanese firm which owns the giant container vessel sounded more optimistic as he said that the vessel will be freed on Saturday itself. Meanwhile, Egypt's Suez Canal Authority chief has said that strong wind was not the main reason for grounding of the ship "Strong winds and weather factors were not the main reasons for the ship's grounding, there may have been technical or human errors," Osama Rabie said at a press conference in Suez. Billions of dollars of cargo are now stalled at either end of the vital shipping lane between Asia and Europe, with their owners mulling whether to wait it out or take the longer and more expensive route around the Cape of Good Hope at the cost of up to 12 additional days at sea. The MV Ever Given, which is longer than four football fields, has been wedged diagonally across the span of the canal since Tuesday, blocking the waterway in both directions. At a press conference in Japan Friday, Shoei Kisen president Yukito Higaki told local media there were no signs of damage to its engines and various instruments. "The ship is not taking water. There is no problem with its rudders and propellers. Once it refloats, it should be able to operate," Higaki said, according to the Asahi Shimbun. The company aims to free the ship "tomorrow night Japan time", he added, the Nikkei news agency said. "We are continuing work to remove sediment as of now, with additional dredging tools." In the Netherlands, the executive director of Royal Boskalis, parent company of Smit Salvage, set a less demanding target. "With the ships we'll have in place by then, the earth we've managed to dredge, and the high tide, let's hope that'll be enough to budge the ship at the start of next week," Peter Berdowski told a public television chat-show late Friday. "We are already in the process of installing a crane on land. That will allow us to eventually remove all the containers from the foredeck, which could involve hundreds of containers." The blockage has caused a huge traffic jam of more than 200 ships at both ends of the 193-kilometre (120-mile) long canal and major delays in the delivery of oil and other products. (With AFP inputs)

Suez canal blockage: Ship may be freed early next week, says salvage firm

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