Egypt has agreed to a compensation deal with the owners and insurers of the Ever Given, the container ship that blocked the Suez Canal in March of this year.
The two parties agreed that the Ever Given will be allowed to leave the Great Bitter Lake, the canal’s midway point, where it was impounded.
The terms of the deal were not revealed but Egypt had initially demanded $550 million.
The Ever Given had become wedged across the canal after running aground due to high winds. The process to free it took six days, a flotilla of tug boats and dredging vessels and during which one person was killed.
Egypt’s Suez Canal Authority (SCA) has said that the Ever Given will be freed on Wednesday.
Sources: Daily Mail, BBC
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