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Egypt impounds Ever Given ship over $900 million Suez Canal compensation bill
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(CNN Business)Egyptian authorities have seized a massive cargo ship which blocked the Suez Canal for almost a week last month, amid a dispute over financial damages, the state-run Al Ahram news outlet said on Tuesday.

An Egyptian court ordered the vessel's Japanese owner, Shoei Kisen Kaisha, to pay $900 million in compensation as a result of losses inflicted when the Panamanian-flagged Ever Given prevented marine traffic from transiting through the vital global trade waterway.

The hefty bill also includes maintenance fees and the costs of the rescue operation, Al Ahram reported.

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