Sunday 4th July 2021
Canal authority releases ship
“Ever Given” is allowed to set sail again
The container ship, which was stuck in the Suez Canal for days in March, is now allowed to leave Egypt again. The Japanese shipowners were able to come to an understanding with the canal authority. So far, both parties have remained silent about the amount of the compensation payment.
The dispute over compensation for the days-long blockade of the Suez Canal by a stuck container ship has been settled. The Egyptian Canal Authority said it would release the freighter that had been detained since it was recovered in March. The signing of the contract and the departure of the “Ever Given” are planned as part of a ceremony on Wednesday. The Japanese ship owner Shoei Kisen confirmed the agreement.
The Suez Canal Administration had confiscated the ship while negotiating with the Japanese owner about compensation for lost revenue and reimbursement of the cost of towing it free. Neither party commented on the details of the agreement. In principle, they had already agreed in June. In view of this, the competent Egyptian court had repeatedly postponed dates in the parallel process in order to enable the opposing parties to reach an out-of-court settlement. The agency had lowered its initial claim from $ 916 million to $ 550 million in the course of the dispute.
The Suez Canal connects the Mediterranean with the Red Sea and is one of the most important waterways in the world. It saves shipping between the North Atlantic and Indian Oceans having to travel around Africa. The “Ever Given” ran aground on March 23rd in strong winds, tilted itself and blocked the canal for six days. Hundreds of ships could not pass the waterway, which severely disrupted global trade. The huge container ship was uncovered on March 29th. It has since been held in a lake between two canal sections.
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