October 1, 2022 08:08

Ever Given’s release imminent

Image: Boscalis.
Image: Boscalis.

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SCA gives green light for the ULCS, Ever Given, to leave the Suez Canal after compensation agreement finalised.

The Suez Canal Authority (SCA) and Shoei Kisen Kaisha, the owners, of the ultra large container ship, Ever Given, have now reached a formal compensation agreement, meaning the huge boxship ship can finally leave the Suez Canal.

“Following the agreement in principle between the parties, and after further meetings with the SCA’s negotiating committee and numerous court hearings, good progress has been made and a formal solution has now been agreed,” said Stann director Faz Peermohamed, whose company has represented the ship’s Japanese shipowner and its insurers.

The release of the ship from detention will come as a relief to the owners of around 20,000-teu of cargo which has been been delayed since the vessel went aground in March, blocking all traffic for six days. The resulting compensation claim was initially $916m. The SCA later reduced the demand to $550m.

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