It looks like Ever Given, the giant containership that got wedged across the Suez Canal, may soon be free to leave the Great Bitter Lake, where it has languished since April after being impounded by an Egyptian court.
Today, the vessel’s P&I insurer, the UK P&I Club released this statement”
“The UK Club is pleased to announce that, following extensive discussions with the Suez Canal Authority’s negotiating committee over the past few weeks, an agreement in principle between the parties has been reached. Together with the owner and the ship’s other insurers we are now working with the Suez Canal Authority to finalize a signed settlement agreement as soon as possible. Once the formalities have been dealt with, arrangements for the release of the vessel will be made.”
Leading Egyptian newspaper Al Ahram says that the Suez Canal Authority has yet to comment but quotes Faz Peermohamed of Stann Marine, the law firm representing the owners and insurers, as saying today that “positive working sessions, negotiations are taking place between us, the UK P&I Club, and the committee assigned by the Suez Canal Authority.”
The newspaper notes that, on Sunday, Suez Canal Authority lawyer Khaled Abu-Baker said on Sunday that a request for adjournment of the legal proceedings in the case had been submitted, as both sides “reached an agreement on some points during the negotiations.”