Egypt seized the giant container vessel that blocked the Suez Canal last month as part of an effort to get more than $900 million in compensation.
A court in the city of Ismailia granted a seizure request regarding the Ever Given vessel at the behest of the Suez Canal Authority, state-run Ahram Gate reported Tuesday.
Egypt’s move underscores the legal complications following the container vessel’s grounding on March 23, which closed the canal for six days and roiled shipping markets. Logjams are expected to continue in the coming weeks at major ports such as Singapore and Rotterdam because of disruptions to schedules, according to supply-chain data provider project44.