Business & Economy

Ever Given ship released after months of detention at Suez Canal

Cairo, Jul 6 (EFE).- An Egyptian court on Tuesday lifted a detention order on the container ship Ever Given, which has been docked in the Suez Canal after blocking the waterway in March.

The Egyptian economic court in Ismailia revoked the decision, taken on 13 April, at a request by the legal advisor of the Suez Canal Authority, Khaled Abu Baker, a source inside the Authority told Efe.

The move came after the entity and the vessel owner had reached a “fair and friendly agreement”, the source added.

A couple of days ago, the authority announced it would allow the vessel to sail on Wednesday after reaching a “settlement agreement” with the Japanese Shoei Kisen, culminating months-long negotiations.

The agreement will be signed in a ceremony on the banks of the canal scheduled for Wednesday.

The authority will be paid $550 million in compensation for the damages caused, down from $916 million they initially sought out.

The Panama-flagged Ever Given ran aground and blocked the traffic in the canal provoking the jams of hundreds of vessels. EFE


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