Ever Given: Ship that blocked Suez Canal sets sail after deal signed
A container ship that blocked the Suez Canal in March – disrupting global trade – is finally leaving the waterway after Egypt signed a compensation deal with its owners and insurers.
A televised ceremony was due to take place as the Ever Given weighed anchor after being impounded for three months.
During that time the ship has been detained at the Great Bitter Lake, the canal’s midway point.
Terms of the deal were not disclosed but Egypt had demanded $550m (£397m).
The 193km (120-mile) Suez Canal connects the Mediterranean Sea to the Red Sea and provides the shortest sea link between Asia and Europe.
But the vital waterway was blocked when the 400m-long (1,312ft) Ever Given became wedged across it after running aground amid high winds. Global trade was disrupted as hundreds of ships were stuck in the traffic jam.
The container ship was refloated following a six-day salvage operation that involved a flotilla of tug boats and dredging vessels. One person was killed during the operation.
Since then, the Suez Canal Authority (SCA) has been seeking compensation from the Ever Given’s Japanese owner Shoei Kisen for the cost of the salvage operation, damage to the canal’s banks and other losses.
The SCA initially asked for $916m compensation, including $300m for a salvage bonus and $300m for loss of reputation. But UK Club – which insured Shoei Kisen for third-party liabilities – rejected the claim, describing it as “extraordinarily large” and “largely unsupported”.