The Suez Canal losses will likely cost the world over $1bn

We all remember the container ship that caused global disruption after blocking the Suez Canal earlier this year. Remarkably, it has finally docked in the United Kingdom – four months later than estimated.

In the previous week (on August 3), the Ever Given finally arrived at the Port of Felixstowe.

Individuals headed down to the port to see the ship’s arrival, which is 400-metre-long. The Ever Given weighs about 220,000 metric tons and can carry 20,000 shipping containers.

Notably, the operation to unblock the ship from the canal back in March caused one of the biggest traffic problems in shipping history. The Suez Canal blockage delayed the courses of hundreds of ships. Besides, some had to take the much longer route around the southern tip of Africa.

For several months, the Egyptian authorities held the vessel in charge of the canal amid a dispute over compensation. According to the Suez Canal Authority, the losses and damages resulting from the incident will eventually cost the world over $1 billion.

According to Shoei Kisen Kaisha Ltd, which is the ship’s Japanese owner, the canal authority was at fault. It claimed that the canal authority should not have let the Ever Given enter the waterway amid stormy weather.

The vessel’s departure from the canal and the fanfare

Furthermore, there were concerns for the welfare of the crew. Remarkably, representatives from the International Transport Workers’ Federation (ITF) were sent on board to check up on them.

In July, the ship departed after striking a compensation agreement. The vessel’s departure from the canal was marked by fanfare as well as a signing ceremony for the deal.

After three months, the Ever Given headed for an inspection in the northern city of Port Said, then to Rotterdam, where it was due to unload the 18,300 containers onboard.

After that, it made its way to Felixstowe and is due to head for Hamburg next.