Business

Ever Given Container Ship That Blocked Suez Canal Is Set to Sail

CAIRO—The container ship that blocked the Suez Canal for days earlier this year is set to sail Wednesday after its owners reached a multimillion-dollar compensation deal with Egyptian authorities for its release, ending a monthslong saga involving passage through a critical global trade route.

The Suez Canal Authority said it had reached a deal with the owners of the Ever Given that would allow the giant container ship to leave the canal. It didn’t immediately provide details of what was agreed.

The ship blocked the Suez Canal for nearly a week in March before being dislodged from its banks. The SCA had demanded payment for the costs of the rescue operation, damages to the canal’s banks and lost revenues. An Egyptian court, which had ordered the seizure of the ship after authorities initially claimed about $900 million in compensation, allowed its release on Tuesday.

A preliminary deal was struck late last month between the owner and insurers of the Ever Given and the SCA called for about $200 million in compensation, according to people familiar with the deal. But Egyptian media has said the amount is much higher and the deal also includes a tug boat. The shipowner, Shoei Kisen Kaisha Ltd. of Japan, the ship’s charterer, Taiwan’s Evergreen Marine Corp. , and its technical manager, Bernhard Schulte Shipmanagement, declined to comment on the deal’s terms at the time.

In a nod to how the ship’s grounding and eventual seizure caught the world’s attention, the departure of the Ever Given from the port of Ismailia is expected to be broadcast live on Egyptian TV.

You May Also Like

World

France, which has opened its borders to Canadian tourists, is eager to see Canada reopen to the French. The Canadian border remains closed...

Health

Kashechewan First Nation in northern Ontario is experiencing a “deepening state of emergency” as a result of surging COVID-19 cases in the community...

World

The virus that causes COVID-19 could have started spreading in China as early as October 2019, two months before the first case was identified in the central city of Wuhan, a new study...

World

April Ross and Alix Klineman won the first Olympic gold medal for the United States in women’s beach volleyball since 2012 on Friday,...

© 2021 Newslebrity.com - All Rights Reserved.