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Ever Given’s owners and Suez Canal Authority reach formal settlement

Ever Given’s owners and Suez Canal Authority reach formal settlement
Satellite image of the Suez Canal on March 25, Credit: BlackSky

Update (July 7): Following a formal agreement between the Ever Given’s owners and the Suez Canal Authority the vessel and her crew have departed the Great Bitter Lake in the Suez Canal, sailing to Port Said, Egypt, where a dive survey of the ship will be completed.

The owners and insurers of the Ever Given and the Suez Canal Authority (SCA) have agreed upon a formal settlement in a compensation dispute.

Reuters reported that the SCA stated that the vessel, which has been held in a lake between the two stretches of waterway since it was dislodged on March 29, would be allowed to sail on July 7.

An event marking the agreement and the ship leaving will be held at the authority’s headquarters in Ismailia in due course.

The UK P&I club noted that following the agreement in principle between parties it took “further meetings with SCA’s negotiating committee and numerous court hearings” before good progress was made, and a formal solution agreed.

Ever Given disrupted global trade when it became stuck in high winds in March 2021 and remained wedged across the canal for six days.