Suez Canal releases hulking vessel after settlement deal

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ISMAILIA, Egypt (AP) — Suez Canal authorities have announced the release of a hulking shipping vessel that blocked the crucial east-west waterway for nearly a week earlier this year. The Ever Given is leaving the Suez Canal after its Japanese owner, Shoei Kisen Kaisha Ltd., reached a settlement with the canal authorities over a compensation amount after more than three months of negotiations and a court standoff. The settlement deal was signed in a ceremony Wednesday in the Suez Canal city of Ismailia, after which the vessel was seen sailing to the Mediterranean. The vessel ran aground in March, blocking the crucial waterway for six days. It has been since held amid a financial dispute.

The post Suez Canal releases hulking vessel after settlement deal appeared first on WEEK.

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