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The blockage that lasted a week had disrupted global shipping
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Details of the deal have not yet been disclosed
Egyptian authorities and the owners of the container ship that blocked Suez Canal back in March have reached a settlement, media reports said on Wednesday. Details of the deal have not yet been disclosed.
The weeklong blockage of that critical water artery disrupted shipping worldwide.
The Suez Canal Authority (SCA) initially demanded more than $900 million, blaming the accident on the ship and asking for reimbursement for dredging and towing the vessel, along with repairs to the canal and reputational damage, the NPR reported.
The owner of the 220,000-tonne vessel, Shoei Kisen Kaisha, and his insurers initially offered $150m, while the SCA had reduced its demands to about $600m.
Refinitiv, a data provider, estimated that lost transit fees totalled less than $100m at the time of the incident.
The ship named Ever Given is one of the largest container ships in the world. It is operated by Taiwanese transport company Evergreen Marine
About 12 percent of global trade passes through the Suez Canal, which connects the Mediterranean to the Red Sea and provides the shortest sea link between Asia and Europe.
