Settlement reached to release ship that blocked Suez Canal

Deal between the Suez Canal Authority and the owners of the Ever Given will be signed on Wednesday in Ismailia, Egypt.

The Suez Canal Authority says it has reached an agreement to settle a financial dispute with the owners of a hulking container ship that blocked the crucial waterway in Egypt for nearly a week earlier this year. The authority did not reveal details on the settlement deal with the Shoei Kisen Kaisha Ltd., the Japanese owner of the Ever Given. It said the deal will be signed in a ceremony in the Suez Canal city of Ismailia on Wednesday. The vessel would be also freed Wednesday, it said.