Ever Given prepares for departure to Netherlands after undisclosed compensation agreed

The ship that made global headlines when it blocked the Suez Canal for six days in March has made its way towards Ismailia in preparation for its departure to the Netherlands.

Earlier this week the vessel’s owners and insurers said that a formal settlement had been agreed upon.

The ship lodged diagonally across the canal earlier this year after strong winds blew it off course, disrupting the shipping route.

Egypt’s canal authority estimated it was taking a $14-15 million hit per day as a result of the blockage. An estimated 12 per cent of world trade passes through the Suez Canal.

READ: Saudi backs Egypt, Sudan in Ethiopia dam dispute

After the ship was eventually freed at the end of March, the Suez Canal Authority prevented it from leaving, with the Chairman of the Suez Canal Authority (SCA) announcing that compensation may exceed $1 billion.

The SCA later lowered their compensation from $916 million to $550 million but continued to hold the ship under a court order until an agreement was reached.

The final compensation agreement has not been disclosed.

Faz Peermohamed, who works for Stann Marine which represents the owner of the ship and its insurers, said that the vessel’s release would be marked with an event at the SCA headquarters today.

The settlement contract will also be signed today with spectators watching the ship, loaded with 18,300 containers, leaving.

Reuters reports that two tugboats and two experienced pilots will be escorting it.