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Ever Given, the ship that blocked the Suez Canal, will be released after a deal is agreed | Suez Canal

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The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March announced that a formal settlement had been reached in a compensation dispute, and the canal authority said the vessel could set sail on July 7.

The Suez Canal Authority (SCA) has held the giant ship and its crew in a lake between two stretches of the waterway since it was evicted on March 29, amid a dispute over a claim for compensation by the SCA.

The Japanese-owned Ever Given had gotten stuck in high winds and remained trapped in the canal for six days, disrupting world trade.

“Preparations will be made for the release of the vessel and an event marking the agreement will be held at the Authority’s headquarters in Ismailia in due course,” Faz Peermohamed of Stann Marine, representing owner Shoei, said in a statement. Kisen and his insurers. on Sunday.

The SCA said the settlement contract will be signed Wednesday at a ceremony and that participants will be able to watch the ship depart. Stann Marine did not provide details of the deal.

Osama Rabie, president of the SCA, said that the canal will receive a tug with a pulling capacity of around 75 tons as part of a settlement, without mentioning any other details.

“We retain the rights of the authority in full, we retain our relationship with the company and also our political relations with Japan,” he told a private television channel on Sunday night.

The channel had revenue of $ 3 billion in the first six months of 2021, up 8.8% compared to the same period last year, despite the Ever Given crash, Rabie said.

Shoei Kisen and his insurers said last month that they had reached an agreement in principle with the SCA.

The SCA had demanded compensation of $ 916 million to cover salvage efforts, reputational damage and lost revenue before publicly reducing the request to $ 550 million.

Shoei Kisen and the ship’s insurers had disputed the claim and the ship’s arrest under an Egyptian court order.

Earlier on Sunday, an Egyptian court postponed hearings in the compensation dispute until July 11 to allow the canal and the ship’s owner to finalize the deal, judicial sources and a lawyer said.

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