The Suez Canal Authority (SCA) announced on Sunday that it will sign a settlement agreement on Wednesday with the owner of the Ever Given ship, Sky News Arabia reported.
The authority invited journalists to attend the signing of the settlement on Wednesday, followed by a press conference.
Accordingly, the ship will be allowed to depart the Suez Canal.
The UK Club – which insured the giant vessel – announced two weeks ago that an initial agreement was reached between the SCA and its owners after weeks of negotiations.
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The SCA has held the giant ship and its crew in a lake between two stretches of the waterway since it was dislodged on March 29, amid a dispute over a demand for compensation by the SCA.
On July 4th, an Egyptian court adjourned hearings in the compensation dispute to July 11 to allow the canal and the ship’s owner to finalize a settlement.
The SCA had demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue before publicly lowering the request to $550 million.
Navigation along the canal resumed on March 29th at 6 pm local time, following the successful refloating of Ever Given giant container vessel which blocked Canal Suez for six days since March 23rd.a
The authorities had suspended navigation through Suez Canal on March 25th following the blockage.
