Early agreement reached in dispute over Suez Canal ship

The owners and insurers of the giant container ship that blocked the Suez Canal for nearly a week earlier this year have reached an ‘agreement in principle’ over their dispute with canal authorities

CAIRO -- The owners and insurers of the giant container ship that blocked the Suez Canal for nearly a week earlier this year have reached an agreement in principle over their dispute with canal authorities, representatives from both sides said Wednesday. Stann Marine, the lawyers representing the vessel’s owners and insurers, and a spokeswoman for the Suez Canal Authority both confirmed the development. Neither elaborated on what the agreement would entail. The dispute centers on the compensation amount the Suez Canal Authority is claiming for the salvage of the vessel Ever Given, which ran aground in March, blocking the crucial waterway for six days.