For Ever Given, Ship That Blocked Suez, It Could Soon Be Anchors Aweigh

The owner and insurers of the Ever Given, the container ship that blocked the Suez Canal for days, disrupting global shipping, reached a preliminary deal with the Suez Canal Authority to release the vessel, according to the U.K. insurance group helping lead negotiations.

The U.K.’s P&I Club said an agreement in principle had been reached that should allow the vessel to sail. It said it was working with the owner of the Ever Given, other insurance companies and the SCA to finalize a deal. “Once the formalities have been dealt with, arrangements for the release of the vessel will be made,” it said.

The container ship blocked the Suez Canal for nearly a week in March before being dislodged from the banks of the canal. The SCA had demanded compensation for damage to the canal before allowing the ship to resume its voyage. The insurer, in its statement Wednesday, didn’t specify the terms of the preliminary agreement. The SCA couldn’t be immediately reached for comment.

More to follow.

Ships were again moving through the Suez Canal Tuesday morning after the Ever Given, the 1,300-foot vessel that blocked the waterway for six days, was freed. But the industry is still bracing for weeks of delays. Photo: DPA/Zuma Press (Video from 3/30/21)

Write to Benoit Faucon at benoit.faucon@wsj.com