Agreement in principle reached over Suez Canal ship

Ever Given container ship has been anchored since it was dislodged on March 29 after blocking the crucial waterway.

A representative for the owners and insurers of a giant cargo ship that blocked the Suez Canal in March said on Wednesday an agreement in principle was reached in a compensation dispute with the canal authority. Work was under way to finalise a signed settlement agreement as soon as possible and arrangements for the release of the Ever Given vessel would be made after formalities had been dealt with, Faz Peermohamed of Stann Marine said in a statement. The Ever Given container ship has been anchored in a lake between two stretches of the canal since it was dislodged on March 29. It had been grounded across the canal for six days, blocking hundreds of ships and disrupting global trade.