Reuters is reporting that an Egyptian court has lifted the detention order on the Ever Given container ship, allowing its expected release from the Suez Canal on Wednesday, according to a lawyer and judicial sources.
The Ever Given’s owners and insurers announced on Sunday that they had reached a settlement with the Suez Canal Authority (SCA) over compensation for the ship becoming grounded in March and blocking traffic in the waterway. The amount of the settlement has not been announced. The SCA initially demanded $916m in compensation to cover salvage efforts, reputational damage, and lost revenue. The demand was later lowered to $550 million.