Egypt is looking for compensation after the 6-day Suez Canal blockage and closure due to container ship Ever Given’s accidentally wedged itself sideways in the canal.

Lieutenant-General Osama Rabie, Suez Canal Authority chairperson, has stated that Egypt will be requesting a compensation of $1 billion from the ship and its company Evergreen Marine, as well as to be reimbursed for the expenses of using dredgers and tugboats in the refloating process as well.

During a telephone interview, Rabie highlighted that the cargo on Ever Given was estimated to be around $3.5 billion.

He added that the Suez Canal will be giving a reduced rate of 5 to 15 percent on transit fees for ships that were stuck during the Suez Canal blockage according to their waiting time.

According to a previous statement, Rabie stated that the canal’s daily losses were estimated at $12 to $15 million.

Rabie did highlight that the Evergreen Company did cooperate well with the authority.

He further explained that President Abdel Fattah El-Sisi directed the purchase of the largest dredges to support the capabilities of the Suez Canal Authority, and we seek to purchase the largest dredgers at a cost of half a billion dollars. China and South Korea are the most important countries in the manufacture of locomotives.

Rabei said that there are 800 workers in the Suez Canal who have contributed to the completion of the floating of the delinquent ship, and a reward will be paid to them and a ceremony will be held to honor them.