The owners and insurers of container ship Ever Given have reached an agreement in principle on compensation to the Canal Authority of the Suez Canal (SCA).
That damage was suffered when the ship came to rest in the canal for about a week in March, blocking all shipping.
An Egyptian judge was supposed to rule on the matter last weekend, but the ship’s owners presented a new compensation proposal shortly before the hearing. It was then decided to give the two parties some more time to discuss further.
The stalling of the container ship created long queues on both sides of ships that could not pass through the 193-kilometre long waterway between the Red Sea and the Mediterranean Sea. More than 350 ships had to wait, and some decided to circumnavigate Africa.