An Egyptian court on Tuesday allowed the release of the container ship Ever Given, which was arrested for blocking the Suez Canal.
The court upheld the Suez Canal administration’s request to lift the Ever Given arrest, the al-Ahram newspaper reported.
Both the management of the Suez Canal and the owner of Ever Given, the Japanese company Shoei Kisen Kaisha, announced this week that an agreement had been reached in a dispute over the blocking of the Suez Canal and compensation demanded by the Egyptian authorities. Both sides also announced that the ship will be released on Wednesday, July 7.
The Panama-flagged 400-meter-long and 59-meter-wide Ever Ever, operated by Taiwanese company Evergreen Marine, reportedly turned sideways and got stuck in bad weather on March 23, stopping sailing in the Suez Canal altogether.
On March 29, it was successfully removed. The ship was then arrested in a lake separating the northern and southern parts of the canal.
The Egyptian authorities arrested Ever Given in April and Shoei Kisen Kaisha demanded compensation of $ 916 million, which was later reduced to $ 550 million.
The Suez Canal, excavated more than 150 years ago, is one of the world’s most important trade routes.
Last year, almost 19,000 ships traveled through the canal, carrying more than one billion tons of cargo.
– .
