SCA and Shoei Kisen Pause Ever Given's Court Case for Negotiations

Amidst ongoing negotiations between the Suez Canal Authority (SCA) and Shoei Kisen Kaisha over the fate of the container ship Ever Given, the UK Club, a protection and indemnity insurer of Ever Given, released a statement stating that proceedings are adjourned until June 20. 

“Since the start of this case, the owners of the Ever Given and their insurers have been committed to an amicable and fair resolution of this matter and remain so. We look forward to further discussions and bringing this matter to a close as soon as is practicable” the UK Club said in a statement published on May 29.

As the negotiations proceed, the SCA has launched a social media campaign highlighting its efforts to refloat the vessel and reopen the canal. On Thursday, the SCA released a video describing how it “assumed full responsibility in dealing with the grounding crisis,” “harnessed all its technical and human capabilities,”  and deployed “more than 600 members of the authority's staff as well as 15 tugs” to salvage the Ever Given. 

The video also echoes SCA's contention that Ever Given is at fault for the grounding, asserting that “the navigation traffic in the Suez Canal runs normally even during bad weather.” 

As stands, the SCA has filed a claim for $550 million, a 40 percent reduction from their previous request of $916 million. The SCA said that it would accept $200 million in advance to allow the vessel to leave, and the remaining $350 million can be paid as letters of guarantee. 

Abdulgani Serang, the general secretary-cum treasurer of the National Union of Seafarers India, compared the previous nearly $1 billion demand to ransom in a Business Insider India article.