Early agreement reached in the dispute over Suez Canal ship
On Wednesday the owners and insurers of the giant container ship that blocked the Suez Canal for nearly a week earlier this year have reached an agreement in principle over their dispute with canal authorities, representatives from both sides said
Stann Marine, the lawyers representing the vessel’s owners and insurers, and the Suez Canal Authority both confirmed the development.
The disagreement centers on the compensation amount the Suez Canal Authority is claiming for the salvage of the vessel Ever Given, which ran aground in March, blocking the crucial waterway for six days. Specialist tugboats and dredgers eventually freed the 400-meter-long (quarter-mile-long) cargo ship carrying some $3.5 billion in cargo.