CAIRO — The container ship that blocked the Suez Canal for a few days earlier this year is due to leave Wednesday after its owners reached a multi-million dollar compensation deal with Egyptian authorities for its release, thus releasing end to a multi-month saga involving passage through a critical global trade route.
The Suez Canal Authority said it had reached an agreement with the owners of the Ever Given that would allow the giant container ship to leave the canal. He did not immediately provide details of what had been agreed.
The ship blocked the Suez Canal for nearly a week in March before being dislodged from its shores. The SCA demanded payment for the costs of the rescue operation, damage to the canal banks and lost income. An Egyptian court, which ordered the seizure of the ship after authorities initially demanded about $ 900 million in compensation, authorized her release on Tuesday.
A preliminary agreement was reached late last month between the owner and insurers of Ever Given and SCA provided for compensation of around $ 200 million, according to people familiar with the agreement. But Egyptian media have said the amount is much higher and the deal also includes a tugboat. The shipowner, Shoei Kisen Kaisha Ltd. of Japan, the vessel’s charterer, Evergreen Marine Corp. of Taiwan, and its technical director, Bernhard Schulte Shipmanagement, declined to comment on the terms of the deal at the time.
As a nod to how the grounding and eventual seizure of the ship has caught the world’s attention, the departure of the Ever Given from the port of Ismailia is set to be broadcast live on Egyptian TV.