Egypt signs non-disclosure deal over canal blockage compensation

Egypt has signed a non-disclosure agreement with the Japanese owner of a megaship that blocked the Suez Canal in March as it finalises a compensation agreement, the canal authority chief said. Egypt has been seeking hundreds of millions of dollars in compensation from Japanese firm Shoei Kisen Kaisha for lost canal revenues and the costs of salvaging the ship and repairing the damage to the canal. It slashed its initial claim for $900 million to $550 million late last month but the final amount has been the subject of tough negotiations between the two sides. "What we signed is a non-disclosur...