CHARLESTON, South Carolina: An Egyptian freighter stranded for more than two months because of its owner s legal problems may get to set sail in just a few days, according to a media report Saturday.
The owner of the Edco has arranged for a $2 million letter of credit to cover claims of a lawsuit that have kept the ship at the Port of Charleston since late June, The Post and Courier reported.
The Edco and its crew have been stuck since Hong Kong-based Grand Max Marine Ltd. sued owner Misr Edco Chipping over its sister ship, the Edco Star, which was found unseaworthy at the Suez Canal. A federal judge detained the Edco, preventing the ship from leaving port and the crew from leaving the ship.
Lawyers for both sides agree the line of credit means the ship does not have to stay in Charleston while the case is in court.
The credit substitutes for the ship as security and as a result, the ship is free to sail, Charleston lawyer Julius Hines, who represents the ship s Egyptian owner, told the newspaper.
The ship and its crew of 29 could leave as early as Wednesday. Its likely destination is Venezuela, where it will undergo extensive repairs, the paper reported.
In the meantime, the vessel also could be moved to a temporary mooring in Charleston Harbor, primarily to avoid paying the State Ports Authority for docking space.
Charleston Coast Guard Capt. John E. Cameron told the newspaper there are no major maritime concerns from the government that would prevent the ship from leaving when it is ready.
A Sept. 21 auction to sell the ship also has been canceled.
