Egyptian officials and owners of the Ever Given vessel that blocked the Suez Canal earlier this year have reached a preliminary deal over compensation, legal representatives said.
“Following extensive discussions with the Suez Canal Authority’s negotiating committee over the past few weeks, an agreement in principle between the parties has been reached,” Stann Marine Ltd, a London-based law firm for the Ever Given’s owners and insurers, said in a statement on Monday.
The two sides would finalize an agreement “as soon as possible,” after which arrangements would be made to let the ship leave Egypt, Stann said.
Photo: Reuters
The statement did not disclose any financial details.
The 400m-long Ever Given, one of the world’s largest container vessels, ran aground in the southern part of the canal in late March, blocking it for six days and roiling shipping markets.
The Suez Canal Authority originally demanded more than US$900 million to cover the loss of transit fees, damage to the waterway during salvage efforts, and the cost of equipment and labor. It reduced the amount to about US$550 million.
Japan’s Shoei Kisen Kaisha Ltd, the owner, and the ship’s insurers initially offered US$150 million. Taiwan’s Evergreen Marine Corp (長榮海運) had chartered the vessel, which was traveling from China to Rotterdam.
After being freed on March 29, the Ever Given was sailed to the Great Bitter Lake and has since been kept there by Egyptian authorities.
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