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Ever Given, the container ship that had earlier blocked the Suez Canal and been detained in March is about to resume its journey on Wednesday after insurers and owners had reached a compensation settlement with the canal authority.

The Ever Given, one of the largest container vessels in the world, became diagonally wedged for six days across a single-lane stretch of the canal, disrupting trade.

The Suez Canal Authority (SCA) had demanded over $900 million as compensation for salvage operation and also other losses, later cut it down to $550 million. It had held the shipper’s court order as it pursued the claim, creating a dispute with the ship’s insurers and Shoei Kisen, its Japanese owner.

Image Credits: Karim El-Gawhary / @Gawhary – Twitter

The ship along with and its Indian crew had been anchored for over three months at the Great Bitter Lake between two stretches of the Suez Canal.

Following negotiations, an undisclosed settlement was reached between the parties and the SCA had announced that Ever Given could be released on Wednesday.

Image Credits: Karim El-Gawhary / @Gawhary – Twitter

A special ceremony is supposed to be conducted at the Suez Canal to mark the vessel’s departure that is loaded with more than 18,000 containers.

The canal sources have said that the ship is going to be escorted by two tugboats and guided by two trained pilots.

Egyptian authorities on Wednesday released the megaship MV Ever Given which blocked the Suez Canal for six days in March after the vessel’s Japanese owners signed a final compensation deal. https://t.co/dBEWPlK8tE pic.twitter.com/05RVFEe6G0

— Atlantide (@Atlantide4world) July 7, 2021

Reference: wsj.com

Background:

Ever Given Shipowner Blames Suez Canal For Grounding And Blockage

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