Agreement after weeks of dispute: "Ever Given" is finally allowed to leave Egypt

The "Ever Given" can leave the Suez Canal, the Japanese owners reached an agreement with the Canal Authority.

Nothing is known about the amount of the compensation.

Cairo - The huge container ship "Ever Given", which has been detained in the Suez Canal since the end of March, is finally allowed to leave Egypt.

This was preceded by weeks of negotiations between the Japanese owner Shoei Kisen Kaisha and the Egyptian Suez Canal Authority.

The contract is to be signed next Wednesday (July 7th), immediately afterwards the "Ever Given" can continue her journey.

The Canal Authority, the shipowner and his insurers will keep the details of the agreement confidential.

The agency initially claimed $ 916 million for lost revenue and reimbursement of haulage costs.

That compensation was later lowered to $ 550 million.

In order to emphasize their demands, the canal authority held the "Ever Given" as a bargaining chip.

In parallel with the negotiations, the case should be tried in court.

But the responsible Egyptian judges had repeatedly postponed appointments in order to enable the opposing parties to reach an out-of-court settlement.

At the end of June, the head of the agency, Osama Rabie, announced that a preliminary settlement had been reached on the compensation.

Agreement in the dispute over the "Ever Given": Canal blockade disrupted global trade

The "Ever Given" ran aground in the Suez Canal on March 23 and blocked the shipping route for six days.

Around 420 ships could not pass the waterway, which severely disrupted global trade.

The container ship was uncovered on March 29th.

Since then it has been held in the bitter lakes between two canal sections.

The Suez Canal, which connects the Mediterranean with the Red Sea, saves ships traveling around Africa on the route between the North Atlantic and the Indian Ocean.

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